Finance

Full steam ahead for EAT

Sandwich and coffee chain EAT has announced plans to tackle the burgeoning train station and airport market as part of its expansion plans.

United Biscuits suffers profit tumble

United Biscuits (UB) has seen pre-tax operating profits fall 47.5% to £54.7 million in the year to 3 January 2015, according to newly filed Companies House accounts.

Tate & Lyle trading and outlook unchanged

Ingredients supplier Tate & Lyle said its trading performance in its first half had been “in line with our expectations” and its outlook for the year was “unchanged”.

Managing director of Speciality Breads Peter Millen
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Speciality Breads to open new £3m bakery

Speciality Breads, the Margate-based wholesale bakery, is to open a new £3m bakery as it revealed it is seeing 30% year-on-year growth and is nearing a £6m turnover.

Tesco records drop in UK like-for-like sales

Supermarket giant Tesco saw its operating profit fall by nearly 55% to £354m in its first half, it revealed this morning.

Greggs reports Q3 LFL sales rise of nearly 5%

Greggs, the high street bakery retailer, said it planned to “deliver good growth for the year” – as it announced third-quarter like-for-like sales (LFLs) of 4.9%.

Staff turnover hits industry hard

Up to 17% of manufacturing and 24% of front-of-house staff leave their jobs every year, a new survey has claimed.

Carrier bag charge comes into force

From today English shoppers will have to pay 5p for plastic carrier bags at the checkout.

Supermarket white loaf price down nearly 5%

A loaf of supermarket white bread has fallen by 4.5% in year, according to new research.

Spanish artisan bakery opens second UK bakery

Spanish bakery Granier is to open a second UK site in Woolwich.

Starbucks franchisee secures expansion funds

Owner of the UK’s first Starbucks franchise Anil Patil has raised £10m to open 16 new sites.

Costa has pledged to pay more
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Costa increases pay as new national minimum wage introduced

Costa Coffee has followed Starbucks in pledging to pay its staff more.

Sainsbury’s posts moderate sales growth

Sainsbury’s has revealed that total retail sales increased by 0.3% (excluding fuel) for the 16 weeks to 26 September 2015.

Invicta adds business development manager

Bakery, catering and food processing supplier Invicta Bakeware has appointed a new business development manager as part of a planned expansion.

Aldi supermarket sales increase by a third

Discount supermarket Aldi has recorded record sales of £6.89 billion for its last financial year, a 31% increase on the previous (2013) year’s figure of £5.27bn.

Tate & Lyle fined £18m for EU sugar deal

Tate & Lyle has been fined £18m over the 2010 sale of its EU sugars business to American Sugar Refining (ASR). 

Proper Cornish’s portable pies listed by major companies

Proper Cornish’s new, handheld ‘on-the-go’ pies have been listed by wholesaler Bidvest and caterer Compass Group.

Innovate to succeed, says foodservice research company Horizons

Operators must offer food from breakfast to bedtime with everything in between or they will be left behind by their competition, according to foodservice research company Horizons.

Scottish co-operative launches premium doughnut range

Scotland’s largest independent co-operative has announced the launch of a new premium doughnut range.

Starbucks to boost staff pay

Coffee chain Starbucks will raise the average hourly rate it pays its staff to £7.98 per hour and offer a help-to-rent scheme.

Hovis scales back production at Wigan

Unions have confirmed that 40 jobs were lost at the end of July, when Hovis closed down a bread production line at its Wigan bakery.

Gunstones back to business as normal

Union leaders have confirmed that a settlement has been reached in a pay dispute at Gunstones Bakery in Sheffield.

Real Good Food: a special report

Martyn Leek takes a closer look at the recent presentation by the Real Good Food board to its shareholders at its annual general meeting

Shares dip at Real Good Food

Shares in Real Good Food (RGF) fell by nearly 2% – as the company announced revenue was down as it entered its new financial year.

John Titmuss
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UB appoints new head of group supply chain

United Biscuits has announced John Titmuss as its new group supply chain director.

Real Good Food's Executive Chairman Pieter Totté
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RGF satisfied, but warns revenue is down

Real Good Food, the bakery ingredients group, has declared itself “very satisfied” with the start of its new financial year – despite revenue being down.

Marketing director to leave Allied Bakeries

Jon Wilson, marketing director at Kingsmill owner Allied Bakeries, is to leave the business, British Baker can reveal.

Finsbury: analysing the results

Finsbury Food Group unveiled revenue and profit growth yesterday – but what were the drivers for the increases? Here British Baker analyses the performance of the bakery group in greater detail.

John Duffy, chief executive of Finsbury Food Group
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Finsbury shares up on preliminary results

Shares in Finsbury Food Group, the large bakery manufacturer and supplier, rose 25% yesterday after the company announced pre-tax profits had grown by 76% to £11.4m last year.

Charlotte Marrifield, Harrogate Cake Company and Jon Haw, Royal Bank of Scotland
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Pastry expert buys Harrogate Cake Company

Top pastry chef Charlotte Marrifield has bought the Harrogate Cake Company with funding support from the Royal Bank of Scotland for an undisclosed sum.

New Nottingham bakery reveals ambitions

Tartisan, the recently opened bakery in Nottingham, has revealed plans to grow nationally and abroad in the next five years.

Second Cup
Second Cup Coffee Company is planning 500 sites in the UK
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Canadian coffee chain plans UK expansion

Second Cup Coffee Company, the Canadian chain, is planning to open 500 UK sites in the next 10 years. 

Pork Farms
Pork Farms Food has launched a new corporate name
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Pork Farms Group rebrands as Addo Food Group

Pork Farms Group, the chilled food producer, has rebranded as Addo Food Group, following the acquisition of the chilled savoury pastry business Kerry Foods. 

Morrisons
Morrisons downgraded by Moody's
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Morrisons’ rating downgraded following profit fall

Moody’s, the investors service, has downgraded its rating for Morrisons. 

Greggs
Greggs is reportedly spreading its reach across Ireland
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Greggs ready to set down roots in Ireland

Greggs is to debut in Ireland later this year or early in 2016, Applegreen chief operations officer Joe Barrett has told the Irish Independent newspaper. 

Ed Rowlands
BFP appoints Ed Rowlands as operations director
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Exclusive: BFP appoints new ops director and invests £1m in fleet

Bakery supplier BFP Wholesale has appointed a new operations director as it also revealed it had replaced 75% of its transport fleet at the cost of £1m. 

BB's King's Lynn
BB's in King's Lynn has just opened
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BB's Coffee & Muffins plans to double in size

BB’s Coffee & Muffins plans to double in size in the next five years as it opens sites in the UK and Ireland including a new masculine-look concept in Dublin. 

Top five
Check out our top 5 stories this week
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Top 5 stories this week

Been a bit busy? Read our round-up of the five biggest stories this week. 

Prima Bakeries
Prima Bakeries anticipates rapid growth
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Cornish Prima Bakeries anticipates rapid growth

Prima Bakeries, the Cornish company, has just invested £100,000 as it anticipates major growth for the brand. 

Waitrose
Waitrose sees LFL sales drop in first half
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Waitrose sees drop in first-half LFLs

Waitrose has revealed that like-for-like sales were down by 1.3% in its first half, as it insisted cut-price techniques were not hitting profits. 

Morrisons LFLs down 2.7%, reveals plans to sell 11 stores

Morrisons saw like-for-like sales (LFLs) drop by 2.7% in its first half – and has announced plans to close 11 stores.

Apostrophe
Apostrophe is going through senior management changes
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Apostrõphe managing director exits the business

Apostrõphe, the bakery café group, is missing a managing director after Richard Franks stepped down. 

Costa
Costa prices may rise to offset National Living Wage
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Whitbread may increase prices to offset National Living Wage

Costa’s parent company Whitbread has warned that it may be forced to raise prices to combat the effects of the National Living Wage. 

Sugar
FDF director advises industry to unite in war on sugar
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FDF urges industry to unite on sugar attack

The Food and Drink Federation (FDF) boss has warned the industry that no sector is safe from the attack on sugar. 

Private equity firm snaps up cake supplier

Cake manufacturer Bright Blue Foods has been acquired today for an undisclosed sum by private equity investor Endless. 

Mangobean
Mangobean has aggressive expansion plans
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Franchise coffee chain reveals expansion plans

Mangobean, the franchised coffee shop operator, has a pipeline of openings planned this year with the goal of achieving an estate of 125 shops. 

Costa
Costa posts strong Q2 performance despite wet August
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Costa sees 4% LFL sales increase

Costa, the Whitbread-owned coffee brand, has posted an increase in like-for-like sales of 4% for the 11 weeks to 13 August 2015. 

Kingsmill
Kingsmill has gained in sales but suffered from lower profitability
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Sales volumes up at Allied Bakeries, but market remains ‘challenging’

Associated British Foods (ABF) has revealed that Allied Bakeries saw increased sales volumes over the financial year, but overall profits across the group are expected to decline. 

Exports
UK bakery exports are up but were impacted by the strength of the pound
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Bakery a highlight as exports fall

Cereals and bakery exports increased by 10% in the first half of the year – but total food and drink sales abroad fell because of the strength of the pound. 

Limit on contactless payments rises

Contactless payments are set to account for more retail transactions now the upper limit has increased from £20 to £30.

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