Finance

Mondelēz brands boost organic sales in third quarter

Mondelēz brands Oreo, Ritz and Cadbury Dairy Milk have contributed to the multinational's organic sales increase of 1.1% in the third quarter.

High street store decline continues to accelerate

High street stores have taken a major hit, with PwC research produced by the Local Data Company finding that 15 stores closed every day in the first six months of this year.

New York Bakery Co scales back pre-tax losses

The New York Bakery Co has steadied its sales and has cut its losses during a strong year.

NFU specialist reminds manufacturers over product recall issues

Paul Shattock, food and drink sector specialist at commercial insurer the National Farmers Union - trading as NFU Mutual - has reminded manufacturers of the importance of risk management to avoid product recall issues on a global scale.

Grocery searches soar across mobile devices

Shoppers searched for groceries on their smartphones 11% more in Q3 2016 compared to the previous quarter, according to Google and the British Retail Consortium (BRC).

Artisan food sales benefit smaller manufacturers

Sales of artisan food have helped smaller and medium-sized manufacturers to grow profit margins to 6.8% of turnover over the past year, according to research by law firm EMW.

Costa continues multiple channel strategy as sales rise

Costa’s total UK retail sales rose 10.1% in the first half of 2016/17 amid total revenue growth for Whitbread of 8.1% to £1.6bn in the six months to 1 September 2016.

Food and Drink International Action Plan: Andrea Leadsom encourages export growth

Secretary of State for Environment, Food and Rural affairs Andrea Leadsom has published the UK Food and Drink: International Action Plan from 2016 to 2020 – outlining the encouragement for export growth in the baking industry.

Hotel Chocolat profits up 90%

Luxury chocolatier and retailer Hotel Chocolat has recorded a massive increase in profits for the year to 26 June 2016, thanks to a focus on the dark side.

Peyton and Byrne goes into administration

Bakery and catering company Peyton and Byrne has gone into administration following the loss of contracts at London’s Kew Gardens and the British Library.

Nick Clegg: ‘Food prices face cliff edge if UK leaves Single Market’

Liberal Democrat politician Nick Clegg has warned that UK food prices will see a steep hike if the government opts for a hard Brexit and leaves the Single Market.

Samworth investment pays off

Leicestershire-based Samworth Brothers, maker of Ginsters pasties and Soreen malt loaf, said in a trading statement its investment in staff and facilities had paid off, with revenues topping £900m.

Burton’s loses sales and market share as it shuns deep discounts

Burton’s Foods - producer of brands including Maryland and Jammie Dodgers - has said it lost share in the sweet biscuits market in 2015 after refusing to participate in aggressive category price cuts.

What could Brexit mean for the UK wheat industry?

Increasing productivity and profitability across the agricultural supply chain will be essential following Brexit, the Agriculture and Horticulture Development Board (AHDB) has warned.

Budgens in Broadstairs
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Him! reveals continuing rise for food-to-go

The total food-to-go market is set to rise by an average rate of 4.4% over the next three years, according to MCA.

Consumer confidence at record high, says Barclaycard

Consumer confidence levels have reached a record high, according to Barclaycard, which revealed that UK consumer spending rose 3.6% in Q3.

FDF survey reveals concerns within the food and drink sector

Members of the Food and Drink Federation (FDF) have revealed in a survey that concerns are mounting within the food and drink sector and confidence is becoming more fragile.

Sweet Treats buck overall trend at Premier Foods

A sixth consecutive quarter of growth in its Sweet Treats division, at 6.4%, bucked the overall sales trend at Premier Foods, which reported a 5.4% fall in total group sales in its second quarter.

Hovis set to collaborate with new DreamWorks movie

UK baking giant Hovis is set to team up with DreamWorks Animation’s latest film Trolls to give one shopper the chance to win a family holiday to visit the studio in Los Angeles.

Signature Flatbreads to use weak pound to drive European sales

Bedfordshire-based wraps and naans manufacturer Signature Flatbreads is aiming to expand its exports business in Europe.

Brexit set to cost 1,500 Scotland food jobs

The impact of Brexit is set to cost Scotland’s food and drink sector around £150m, which could result in around 1,500 jobs losses in the Highlands, according to researchers.

Krispy Kreme abandons £200m London flotation

Doughnut retailer Krispy Kreme has chosen to withdraw its planned £200m London flotation after announcing the 100% sale of its shares to US parent brand owner Krispy Kreme Group.

Menu development helps boost Greggs’ sales

High street bakery retailer Greggs has said its Balanced Choice and breakfast products have been popular over the summer months, as it released its third-quarter trading statement to 1 October.

Biscuiteers aims for growth via crowdfunding

Handmade biscuits company Biscuiteers is launching a crowdfunding campaign with Crowdcube in a bid to achieve accelerated growth.

Hovis records £19m loss in second year of trading

UK baking giant Hovis has recorded a £19m loss in its second year of trading since Premier Foods wrote off part if its investment into the company.

Premier chairman steps down

Premier Foods has announced that David Beever will step down as chairman of the company in 2017.

Délifrance partners Michelin Guide launch

The 2017 Michelin Guide for Great Britain & Ireland launches today in London, partnered by bakery Délifrance.

UK e-commerce grocery market grows by 6.9%

According a report published by Kantar Worldpanel, sales of groceries in the UK through e-commerce platforms has increased by 6.9% in the 12 months to June 2016.

Sainsbury’s sees slight second-quarter drop

Sainsbury’s has seen total retail sales (excluding fuel) fall 0.4% in its second quarter results to 24 September 2016.

Co-op profits down by over 50%

Profits at the Co-op Group more than halved to £17m in the first six months of the year, hit by the group's three-year plan to rebuild the business.

Aldi reports record sales but profits hit by price war

Discount supermarket Aldi has reported record sales in the UK and Ireland for 2015 and said it will invest £300m in revamping its stores, but profits have been hit by the supermarket price war.

Lunch sales suffer as Brits go out for breakfast more

The lunch market is coming under increasing pressure as people spend more on breakfast, according to data from NPD Crest on the ‘out of home’ (OOH) foodservice market.

Supermarket sales up, despite deflation

Kantar Worldpanel has revealed that, despite continued deflation of 1.1%, supermarket sales rose by 0.3% in the 12 weeks ending 11 September.

Multi-channel strategy reaps significant rewards for Finsbury

Cake, bread and morning goods manufacturer Finsbury Food Group has enjoyed a near 25% rise in group revenue for the financial year ended 2 July 2016, according to preliminary results from the company.

Morrisons reveals upbeat progress amid industry wins

Retailer Morrisons has seen like-for-like sales (excluding fuel and VAT) rise by 1.4% for the half year to 31 July 2016.

Ocado sales climb despite price wars

Group sales at Ocado climbed 15.4% to £314 million in the third quarter, despite the chief executive indicating that price wars were expected to continue in the future.

Manchester bakery Sheldon’s remains upbeat

Manchester wholesale bakery GH Sheldon’s saw a sharp drop in profits in the year to the end of February, according to its recently filed annual accounts.

Street Eats set for growth at new £4m processing centre

Food-to-go company Street Eats has moved into a state-of-the-art food processing centre as it pushes to become one of the leading food-to-go producers in the UK.

Real Good Food in upbeat mood

Real Good Food executive chairman Pieter Totté has issued a bullish statement on group trading in advance of the company’s annual general meeting today.

Anger at changes to Sainsbury’s meal deal sandwiches

There has been a social media backlash after Sainsbury’s removed Taste the Difference options from its £3 meal deal. The range has been renamed On The Go, and still includes a drink, sandwich and snack.

Consumer spending soars to 13-month high in August

The latest Barclaycard consumer spending data has reached a 13-month high of 4.2%, a counteraction from muted growth of 2.6% in July.

M&S announces proposed change to UK HQ

Supermarket giant Marks & Spencer has announced that it will be discussing proposals with its employees to make significant changes to its UK head office structure.

FDF reveals rise in UK exports to non-EU countries

The Food and Drink Federation (FDF) has announced British food and drink exports are up by 6.2% in the first half of 2016 compared to the same period last year, following the fall of the pound since Brexit.

Slight grocery price drop in August

Research from comparison website MySupermarket shows that a basket of popular supermarket items dropped slightly in August, two months after prices rose in June and July.

North American chain Tim Horton

Tim Horton’s to extend to UK market

Canadian and US restaurant chain Tim Horton’s will expand into the UK market after announcing a joint venture with a British investor.

West Cornwall Pasty Co continues profitable turnaround

West Cornwall Pasty Company has released its latest financial statement, with sales figures of £13m and underlying like-for-like sales increasing by 7.6% for the year ending 25 March 2016.

Hershey rejects Mondelez takeover bid

Mondelez International, owner of Cadbury, has had its latest £19bn takeover offer for US snack and confectionary manufacturer Hershey rejected and will now end its attempts to acquire the company.

Insomnia announces Blakemore & Son partnership to increase store numbers

Irish coffee shop chain Insomnia has announced a partnership with Spar petrol forecourt operator Blakemore & Son as it aims to increase its UK store count to 12 by the end of this year.

Tesco sells Euphorium Bakery

Tesco has agreed to sell its Euphorium Bakery business for an undisclosed sum.

Bread Factory and Gail’s bakery sales climb

The Bread Factory and Gail’s artisan bakery annual revenues are up by 41.5%, suggesting that UK consumers’ hunger for artisan bread shows no signs of dying out.

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