Finance

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.

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.

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.

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.

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.

Patisserie Valerie up 13.2% as expansion continues

Revenue across the Patisserie Valerie brand has risen 13.2% in the past half-year.

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.

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.

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.

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.

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.

Samworths’ Brooklands Bakery site facing closure

The Brooklands Bakery, previously part of the Euphorium bakery business owned by Tesco, is facing closure.

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.

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.

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.

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.

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.

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.

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.

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.

Barry Callebaut reports strong chocolate volume growth

Chocolate supplier Barry Callebaut has reported booming volume sales in its Europe, Middle East and Africa (EMEA) region.

Bakery store numbers rise despite high street slump

Bakery and coffee shop chains have bucked the slump in high street store openings in 2017.

Waffle machine firm to ramp up overseas business

Waffle machine supplier The Malted Waffle Company is aiming to increase its overseas business after securing funding from Santander.

Real Good Food secures £4m additional funding

Haydens and Renshaw owner Real Good Food (RGF) has secured additional funding to ease pressure on its cashflow.

Finsbury Food H1 results: revenue and profits rise

Finsbury Food Group has reported a 4.7% hike in operating profits in the 26 weeks ending 30 December 2017.

Bako North Western in drive for new shareholders

Bakery supplier Bako North Western Group is aiming to secure new shareholder members following a shake-up of its capital structure.

Coveney takes US lead role in Greencore shake-up

Greencore boss Patrick Coveney is to split his time between the UK and the US as the business announces a restructure of its US operations and leadership.

Eid family buys back Signature from Aryzta

Signature Flatbreads has bought out its joint venture partner Aryzta.

Aryzta profits crash in wake of rising costs and US woes

Earnings at baked goods supplier Aryzta have fallen by almost a third as the business looks to turn around its performance.

Probe launched into Co-op delistings and charges

Groceries Code Adjudicator Christine Tacon has started an investigation into the Co-operative Group over delistings and the introduction of quality control charges.

Black magic: charcoal pizza helps to boost Bakkavor

Strong sales of bread and pizza – including a charcoal base launched into Waitrose stores – have helped drive growth for Bakkavor.

Greggs: 2018 will be a year of record investment

Greggs is to make £45m of capital expenditure in 2018 as it continues the consolidation of its manufacturing and logistics operations.

ABF: Allied recovering loss but Ryvita under pressure

Allied Bakeries is continuing to make progress in recovering its losses, according to owner Associated British Food (ABF).

Finsbury Food Group secures £45m debt facility

Finsbury Food Group has refinanced its debt facility with an eye to exploring future growth opportunities.

Brook Food Group opens New Zealand office

Somerset-based bakery equipment supplier Brook Food Group has opened its second overseas branch.

Trade mission explores export opportunities in India

Cake supplier The English Cheesecake Company has taken part in a trade mission showcasing export opportunities in India.

Italian firm Granarolo buys Midland Food Group

Chilled and frozen food wholesaler Midland Food Group (MFG) has been acquired by Italian dairy business Granarolo Group.

The company supplied a range of puddings
  (Photo: The Ultimate Food Co )

Pudding firm Ultimate Food Co enters administration

Christmas pudding supplier The Ultimate Food Company has entered administration after trading for more than 30 years.

Openfield profits down in tough trading conditions

A weak harvest has contributed to a £3.3m loss at grain supplier Openfield.

RGF warns of £3.5m loss following weak end of year

Real Good Food has warned it is set to make a £3.5m earnings loss following poor trading at the end of last year.

Booming food-to-go market drives growth at Greencore

Soaring food-to-go sales have driven a 9.2% rise in reported revenue for Greencore’s UK and Ireland operations.

Aryzta cites Brexit pressure as it issues profit warning

Aryzta has warned its earnings will be down 15% year on year, but insists revenue is ‘relatively’ stable.

Allied Bakeries recovering losses, reports ABF

Allied Bakeries has made “some progress” in reducing its previously announced losses, according to its parent company.

Finsbury UK sales up as overseas business dips

Finsbury Food Group has said it is maintaining its focus on offsetting cost increases after reporting a 2.5% rise in revenue in the last six months of 2017.

Nomad Foods to acquire Goodfella’s Pizza

Nomad Foods is to buy Goodfellas pizza supplier Green Isle Foods from 2 Sisters Food Group.

Premier Foods Q3: Cadbury and Mr Kipling sales decline

Premier Foods’ Mr Kipling and Cadbury cake sales have fallen in the past three months – although the business has reported strong growth in its own-label cake business.

How was 2017 for Britain’s bakery industry?

British Baker wants you to say what the past 12 months have meant for the retail bakery market.

Coffee shop market up 7.3% despite Brexit pressures

More than 1,200 coffee shops were opened in the UK in the past year, according to a new study.

Margin pressure continues to push up bread prices

The average price of a large loaf of wrapped bread has risen 6p in the past year as rising costs put pressure on Britain’s bakers.

Paul UK raises over £13k for food charity campaign

Paul UK has raised £13,280 for The Felix Project’s ‘Help a Hungry Child’ campaign from sales of its breads.

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