All Finance articles – Page 42
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News
Aryzta announces profit warning and £175m cuts
Bakery business Aryzta has cuts its forecast earnings and announced plans to slash costs by £175m over the next three years.
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M&S to axe 100 stores and slow food expansion
Marks & Spencer (M&S) is to close more than 100 stores by 2022 and has scaled back its Simply Food openings.
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US woes take toll on profit growth at Greencore
Greencore profit growth has been dented in a “challenging” half year by problems in the firm’s US operation.
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SSP Group profits up by almost a third year on year
New contracts and operational improvements have driven a 32.6% increase in underlying operating profit at travel site operator SSP Group.
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Product News
Northumbrian Fine Foods acquired by European firm
Gluten-free biscuit manufacturer Northumbrian Fine Foods has been acquired by European own-label firm Biscuit International from CriSeren Foods.
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Product News
Premier branded cake sales down 3% across the year
Sales of branded cakes at Mr Kipling and Cadbury cakes supplier Premier Foods have fallen more than 3% year on year.
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Patisserie Valerie up 13.2% as expansion continues
Revenue across the Patisserie Valerie brand has risen 13.2% in the past half-year.
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NPD helps NI bakery Sweet Things treble sales
Sales at Northern Irish bakery Sweet Things have trebled to £1.5m over the past year, driven partly by NPD.
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Crowdfunding helps gluten-free bakery plan second site
A gluten-free Edinburgh bakery plans to open a second store within the next year following a successful crowdfunding push that has raised more than £30,000.
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Severe winter weather hits Greggs’ sales
Weak footfall caused by severe winter weather contributed to a like-for-like fall in Greggs’ sales during the first 18 weeks of the year.
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Samworths’ Brooklands Bakery site facing closure
The Brooklands Bakery, previously part of the Euphorium bakery business owned by Tesco, is facing closure.
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Real Good Food secures further £8.2m funding
Haydens and Renshaw owner Real Good Food has secured a further £8.2m financing – and stated that, without this, there was a “significant risk” it would not be able to trade.
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News
Acquisition bid for Ministry of Cake owner
Private equity firm IK Investment Partners, which has interests in a host of food businesses across Europe, is aiming to acquire Mademoiselle Desserts.
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Product News
AB Mauri acquires Holgran from Rank Hovis Milling
Bakery ingredients suppliers Holgran and Fleming Howden, parts of the Rank Hovis Milling business, are to be acquired by AB Mauri.
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Manchester bakery chain closes following robbery
Dawsons Bakery, which operated four shops in the Manchester area, has entered administration following a robbery at one of its sites.
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Product News
What could Sainsbury’s/ Asda deal mean for bakers?
News of Sainsbury’s proposed merger with Asda – to create a £51bn-a-year retail behemoth – has caught much of the grocery world unawares.
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News
Three-quarters of card payments in bakeries are contactless
Bakeries have the highest rate of contactless card payments of any merchant type in the UK in 2017, a study has revealed.
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Product News
Lantmännen invests £4.4m in Milton Keynes factory
Bakery supplier Lantmännen Unibake is to invest £4.4m in its Milton Keynes factory following growth in the burger market.
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News
Whitbread to spin off Costa business in UK
Costa is to be demerged from the Premier Inns business and become listed as a separate company within the next two years.
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Product News
Kent Foods to buy Garrett Ingredients from RGF
Haydens and Renshaw owner Real Good Food is selling its Garrett Ingredients business to Kent Foods Limited.