Results – Page 28
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NewsCity snapshot: Premier Foods profits jump as branded sales continue to surge
Premier Foods has upgraded its full year profit expectations as consumer demand for its branded goods continues to boom. Plus, Hotel Chocolat posts double-digit Christmas growth despite COVID and all the rest of the latest news from the City.
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NewsCity Snapshot: Tesco posts Christmas sales growth of 8.1% as Covid costs mount
Tesco has reported a “strong” sales performance in its third quarter and Christmas period, although new coronavirus restrictions have added a further £85m to existing Covid costs. Plus, trading updates from ABF, Bakkavor, Hilton Food Group, Finsbury Food Group and Science in Sport
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NewsCity snapshot: Pink fizz and festive jumpers drive record Christmas at Lidl
Lidl increased overall sales 17.9% in the four weeks to 27 December compared to Christmas 2019 to outperform its big four rivals and Aldi. Plus, Just Eat sees orders surge again in fourth quarter as new lockdowns benefit the takeaway delivery app.
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NewsCity snapshot: Nichols annual sales drop 19% as out of home revenues slump
Vimto producer Nichols has reported a 19.3% drop in 2020 revenues as the coronavirus outbreak decimated out of home sales. Plus trading updates from The Hut Group, British Honey Co and Carr’s, while B&M founders sell £218m of shares and all the rest of the latest news from the City.
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NewsCity Snapshot: Post Office delivers strong Christmas as online shopping booms
The boom in online Christmas shopping fuelled by the coronavirus crisis has seen the Post Office deliver a 17% rise in December sales. Plus, Commercial landlord British Land has collected less than half the rent due from its retail tenants in December as tightening coronavirus restrictions forced many shops to close once more.
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NewsCity Snapshot: Covid restrictions hit Christmas trading at M&S
Marks & Spencer has reported an 8.4% drop in third quarter sales, with food growth of 2.2% not enough to compensate for a plunge in general merchandise sales.
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NewsCity Snapshot: Sainsbury’s raises profits guidance after festive growth of 9.3%
Sainsbury’s has posted Christmas like-for-like sales growth of 9.3% after releasing its festive trading update early due to it raising its profits guidance.
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NewsMorrisons' Christmas sales surge 9.3%
Morrisons has reported a 9.3% growth in group like for like ex-fuel sales over the festive period as rising sales have mitigated the extra costs from the coronavirus tiering rules
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NewsCity snapshot: Covid Primark closures cost ABF a further £220m
Associated British Foods has said the tightening of coronavirus restrictions will cost the group an extra £220m on top of the previously announced £430m. Plus, the FTSE starts the year strongly after Brexit deal and all the rest of the latest news from the City.
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NewsCity Snapshot: SSP Group loses £426m amid COVID sales collapse
Travel specialist SSP Group has reported a near-50% plunge in annual revenues and a £426m pre-tax loss due to the coronavirus. Plus, Cranswick withdraws from IPN race, Sainsbury’s Bank names new chair and all the rest of the latest news from the City.
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NewsCity snapshot: Ocado hikes profits forecast on retail sales surge
Ocado has hiked its full year profits forecast as its UK retail sales continue to boom as grocery shoppers stay at home. Founders and Blackstone bid for Applegreen. Plus, trading updates from McColl’s, Marston’s and DS Smith and all the rest of the latest news from the City.
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NewsCity snapshot: B&Q owner Kingfisher joins flurry of retailers returning business rates relief
Screwfix and B&Q owner Kingfisher has joined the flood of retailers to hand back business rates relief received during the coronavirus pandemic. Plus, a trading update from The Hut Group and Mike Ashley’s Frasers Group confirms Debenhams rescue talks.
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NewsCity snapshot: Second lockdown costs ABF £430m in lost sales
A second wave of coronavirus lockdowns has cost Associated British Foods £430m in lost sales, as Primark stores have closed across Europe. Plus, Pets at Home the latest retailer to pay back business rates relief and all the rest of the latest news from the City.
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NewsCity Snapshot: Sainsbury’s to hand back £440m of business rates relief
Sainsbury’s has joined Tesco and Morrisons in handing back its business rates relief, which will cost the supermarket around £440m
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NewsCity News: Compass Group and Greencore provide reasons for optimism
This year will not be looked back on with any fondness by out-of-home eating specialists
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NewsCity snapshot: Britvic confident in recovery after sales and profits plummet in lockdown
Brtivic’s boss has pledged to be at the forefront of the recovery in a soft drinks category slammed by the coronavirus pandemic after revenues and profits slumped at the group. Plus, PZ Cussons appoints a new CFO.
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NewsCity snapshot: Greencore raises £90m as coronavirus impact drives annual loss
Greencore has raised £90m in a share placement as the impact of the coronavirus outbreak led to a double-digit drop in annual sales and a pre-tax loss of more than £10m. Plus, on the busy morning, trading updates from Cranswick, Compass Group, Pets at Home and all the rest of the latest news from the City.
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NewsCity Snapshot: Danone to cut global SKU count by up to 30%
French food group Danone is to cut its product range by up to 30% in a cost-cutting effort to return to profitable growth in 2021
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NewsCity snapshot: Naked Wines sales soar as consumer discover online wine
First-half revenues at Naked Wines have soared 80% to £157.1m as consumers flocked to online as the coronavirus outbreak hit the UK. Plus Vimto maker Nichols is considering redundancies across its operations as the Covid pandemic continues to hammer the soft drinks market; European supermarket group Ahold Delhaize acquires online US grocer FreshDirect, and a trading update from Finsbury Food Group.
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NewsCity snapshot: Delayed harvests hit revenues at Origin Enterprises
International agri-services group Origin Enterprises has experiences a double-digit revenue drop in the first quarter as delayed harvests hit revenues. Plus, Wynnstay upgrades full year profit expectations, British Land loses £730m and all the rest of the latest news from the City.