Finance

Rise in national minimum wage

The national minimum wage will increase by 3% in October this year, the government has announced.

Greggs makes two board changes

Greggs, the bakery retail chain, has appointed two new non-executive directors.

Premier Foods to meet unions over Hovis developments

The senior management of Premier Foods is to meet with union bosses to discuss Hovis workers affected by the partial sale of the bread brand. 

Krispy Kreme grows Scottish presence

Doughnut retailer, Krispy Kreme, has started an expansion drive across Scotland, after opening a factory shop in Edinburgh in February 2013.

Greggs’ profits fall in challenging market

Greggs has seen an 18.9% fall in pre-tax profit following competitive trading conditions, according to latest figures.

ABF: sugar prices to hurt profits

Associated British Foods (ABF) – the company behind Kingsmill – has revealed that lowering sugar prices would impact its profits in the year ahead.

Italy complains about “traffic light” food labelling

Italy has complained over the UK’s use of voluntary colour-coded food labels, claiming the system is discriminatory.

Unemployment rate rises to 7.2%

The rate of unemployment has risen to 7.2%, according to the latest figures.

Costa MD to head high street initiative

Costa Coffee’s managing director Jason Cotta will head a new initiative to revive the UK high street.

Eating out sector to reach pre-recession heights

The UK’s eating out sector is forecast to grow 3% in value, to £82.5bn, over the next 12 months, despite an increasingly competitive trading environment.

Tate & Lyle warns on profit decline

Falling artificial sweetener prices will impact Tate & Lyle profits, the company has warned.

Grocery market growth falls to 2.4%

Aldi and Lidl dominated sales growth once again, as overall grocery market growth hit its slowest rate since 2005, new figures show.

Britain has ‘too many shops’ claims LDC

As shop vacancy rates fall below 14% for the first time in four years, the Local Data Company’s (LDC) director has claimed Britain has too many shops.

Brace’s Bakery sees £1.2m pre-tax profit

Welsh bakery Brace’s has reported pre-tax profits of £1.2m for the year ended 30 September 2013.

UK economy grows 0.7% in Q4

The UK economy grew by 0.7% in the final quarter of the year, according to the latest results.

Whitbread chairman to step down

Whitbread plc, owner of Costa Coffee, has announced that Anthony Habgood will step down as chairman later this year.

Acquisition drives growth at Barry Callebaut

Sales volumes at Barry Callebaut have increased by 19.5%, following the acquisition of the Cocoa Ingredients Division of Singapore-based Petra Foods last summer.

Exclusive: management changes at Macphie

Bakery ingredients manufacturer Macphie has announced a management restructure, with current chief executive Alastair Macphie moving to the role of executive chairman.

Aldi and Lidl show continued sales growth

Aldi and Lidl continue to show strong sales growth, according to the latest results.

UK inflation hits 2% target

The UK inflation rate fell to 2% in December, from 2.1% the previous month.

Carr’s Milling sees net debt increase

Carr’s Milling Industries net debt has risen by £6.1m, according to latest reports.

SSP denies advisor appointment

British food outlet operator Select Service Partner (SSP) has denied the appointment of advisors for initial public offering (IPO).

Tesco sees 2.4% decline in LFL sales

Tesco has reported a 2.4% decline in like-for-like (LFL) sales during the Christmas period, according to latest results.

M&S records 1.5% LFL food increase for Christmas

Marks & Spencer (M&S) has seen a 1.5% increase in like-for-like (LFL) food sales during the Christmas period, according to its latest results.

Greggs sees 2.6% LFL increase in Q4

Greggs has seen an increase of 2.6% in Q4 like-for-like (LFL) sales following “strong demand” during the Christmas period, according to its latest trading results.

Co-op sees positive food sales over Christmas

The Co-operative Group has seen a like-for-like (LFL) sales increase of 1% during the Christmas period following strong food sales.

UK coffee shops to exceed 20,500 by 2018

The UK coffee shop market will exceed 20,500 outlets by 2018, according to latest reports.

Hain Celestial to sell Daily Bread

USA-based The Hain Celestial Group has signed a letter of intent to transfer its sandwich business Daily Bread to a strategic buyer.

July food sales show upward momentum

Food store sales value increased by 2.9% in July, compared to the same month last year, according to the latest statistics from the Office for National Statistics (ONS).

USDA posts downward revision for maize

US maize production estimates have been revised downwards in the latest United States Department of Agriculture (USDA) Grains: World Markets and Trade report.

CSM sees Q2 improvement

CSM Global has achieved higher sales in the second quarter of 2012, with preparatory work to divest its Bakery Supplies business under way.

Home-based baker’s deal with Tesco

Home-based business The Chocolate Brownie Company has struck a deal to supply 50 Tesco stores in Wales, on an introductory price promotion.

United Biscuits separates snack business

United Biscuits (UB) has finally announced it has separated its snacks business, after steadily denying the related rumours over recent weeks and months.

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