Finance

Kingsmill
ABF: competitive bakery market
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ABF warns of lower profit for Kingsmill, amid competitive market

Associated British Foods (ABF) has said the UK bakery market “remains intensely competitive” and expects Kingsmill owner Allied Bakeries’ profit to be lower than last year as a result. 

Brighton bakery opens sites and expands wholesale

The Flour Pot Bakery in Brighton is to open two more sites, as it also secures its first London customers for wholesale.

Tesco chairman
Tesco appoints John Allan as chairman
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Tesco names new chairman

Tesco has appointed John Allan as chairman following Robert Broadbent’s decision to step down in October last year. 

Bakkavör reports 4% growth in LFL revenues

Bakkavör, a leading fresh food, pizzas and desserts producer, has seen full-year like-for-like revenues up 4% to £1.72bn for 2014.

PM makes pledge on business loans

Prime Minister David Cameron has pledged to guarantee business loans by private lenders, if he wins the general election in May.

Supermarkets
Grocery market picks up
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Grocery market picks up pace

The grocery market is growing at its fastest rate since June last year at 1.1%. 

Cooplands’ shop closures revealed

Details of the closing Cooplands of Doncaster shops have been released, after the bakery went into pre-pack administration last week.

Tate & Lyle issues new profit warning

Tate & Lyle, the international food ingredients, supplier has issued its third profit warning in a year.

Cooplands of Doncaster head office
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Cooplands undergoes pre-pack administration

Cooplands of Doncaster has undergone a pre-pack administration with the loss of 300 jobs.

Tesco back in eye of storm as GCA investigates

Tesco faces more scrutiny as an investigation is initiated into its relations with suppliers.

Food deflation hits new high

Food prices slumped by 0.5% in January - the steepest decline since records began in December 2006.

Cameron halts pasty eating habits
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PM’s diet sees pasties ditched alongside bread

The Prime Minister David Cameron has given up the Cornish Pasty, just weeks after he announced his decision to stop eating bread.

Cooplands of Doncaster head office
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Jobs at risk at Cooplands

Cooplands of Doncaster has warned staff that jobs are now at risk, as it enters a consultation period with a restructuring company. 

Greencore sees Q1 LFL sales boost

Greencore group, one of the UK’s biggest sandwich producers, has delivered a 4.4% total like-for-like (LFL) sales bump in its first quarter.

Pasty firm to revamp retail chain

Cornish pasty maker Warrens Bakery is to rebrand and expand retail shops, after receiving £1.6m in funding.

Mr Kipling
Mr Kipling second half 2014 relaunch credited with strong results
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Premier Foods praises Mr Kipling performance in final quarter

Premier Foods has highlighted power brand Mr Kipling as its ‘stand-out performer’ in its latest trading results for the quarter to 31 December 2014. 

Vandemoortele buys Italian bakery products firm

European frozen bakery producer Vandemoortele has acquired Lanterna-Agritech (LAG), a producer of frozen focaccia and bread in Italy.

Rainbow Dust employs 28 people and operates out of a manufacturing site near Preston in Lancashire.
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Real Good Food buys up cake decoration firm

Real Good Food (RGF) has acquired a specialist supplier of cake decorating products for £4m.

Thorntons stays upbeat despite fall in sales

Thorntons has seen total sales plummet 10.3% in its commercial division to £41.9m.

Finsbury Food Group
Finsbury Food Group posts positive sales figures for 2014
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Finsbury’s sales boosted by Fletchers buy

Bakery manufacturer Finsbury Food Group has reported that total sales revenue grew to £107.6m in 2014. 

December footfall down on 2013

Average footfall in the UK for December fell by 0.7% compared to last year’s festive season.

Sugar
ABF posts revenue up in latest quarter
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ABF sees revenue rise 3% in latest quarter

Associated British Foods (ABF), the parent company of Kingsmill, has ended the 16 weeks to 3 January 2015 with revenue 3% ahead of the same period last year. 

Biscuit firm strikes $90m Bahrain deal

Mondelez International, owner of Cadbury, has signed a deal to set up a new $90m (£59.15m) biscuit factory in Bahrain.

Ocado sees Christmas sales soar
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Successful Christmas for Ocado

Ocado has seen a bumper Christmas, processing nearly 40% more items for Ocado.com and Morrisons.com than over the same period last year.

Sainbury’s tops table in tight big-four race

Christmas sales have closed the gap between the big four retailers, with a difference in sales growth of just 0.9% between them all.

Carr’s reports growth in flour, but lower revenue

Carr’s Milling Industries has outperformed its previous performance in food, with flour volumes up on last year.

Dunkin’ Donuts reveals broad expansion plan for China

Dunkin’ Donuts has announced plans to open 1,400 new stores in China over the next 20 years.

Dalton Philips will continue in his role until the year-end results to ensure a smooth transition
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Morrisons boss to leave, following Christmas sales slump

Dalton Philips, the man at the helm of Morrisons, is to leave the company after the board announced that “it [was] time to start the search for a new chief executive”.

Food-to-go bumps up Greggs’ Christmas sales

High street bakery giant Greggs has said it had a “very strong Christmas”, with own shop like-for-like sales (LFLs) up 4.5% for the financial year.

Aryzta naan
Aryzta plans to expand in-demand flatbreads category worldwide
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Aryzta enters joint venture on flatbreads

Swiss food group Aryzta plans to drive its flatbreads category Honeytop globally via a joint venture with the group that previously ran the business. 

Middleton brother makes another loss with cake business

The cake business of James Middleton, brother of Kate Middleton the Duchess of Cambridge, has made a loss for its third consecutive year.

SSP operates brands such as Millie's Cookies
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SSP food travel giant sees LFLs up

SSP, the leading food operator in travel locations worldwide, has seen like-for-like (LFL) sales grow 2.7% in its first quarter.

Bristol firm enjoys successful sales

Bristol-based café business, Boston Tea Party, has seen a 11.5% increase in like-for-like (LFL) sales for the year ending 22 October 2014.

M&S sees positive festive performance for food

Marks & Spencer hailed a “very good” Christmas in food, claiming a record sales increase of 17% in the key Christmas week.

Tesco sees Christmas success, despite announcement to shut 43 stores

Tesco has made its first trading update of 2015, revealing plans to shut 43 “unprofitable” stores, most of which are likely to be convenience outlets.

Mike Coupe:
supermarket boss
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Sainsbury’s: LFLs down and warns on deflation

Sainsbury’s has revealed like-for-like sales (LFLs) fell during the important festive period – and warned the remainder of its financial year would be “challenging”.

Waitrose mince pies:
Positive festive results for the retailer
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Waitrose sees strong festive sales

Like-for-like sales increased by 2.8% at supermarket Waitrose over the Christmas period – the sixth consecutive year it has outperformed the market.

ADM to sell global cocoa business to Olam

Archer Daniels Midland Company (ADM) is to sell its global cocoa business to Olam International, the global commodity processer and trader, for £830m ($1.8bn).

Real Good Food bullish despite profit drop

The ongoing dispute with a rival sugar company has continued to impact on Real Good Food’s (RGF’s) financial results, as the group showed a pre-tax profit loss of £5.2m.

Greggs’ shares soar on profits guidance

Shares in Greggs soared yesterday after the bakery retailer revealed that increased sales would mean better-than-expected profits.

UK coffee shops outperform retail

The UK coffee shop market is outperforming the UK retail sector, with significant sales growth of 10.7% on last year equating to £7.2 bn in turnover.

Premier Foods criticised over controversial supplier payments

Premier Foods, the company behind Mr Kipling cakes, has hit the headlines for asking suppliers to hand over money – or risk losing contracts.

Harris + Hoole:
the coffee shop has over 40 sites on the high street and in Tesco stores
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Tesco-backed café sees financial loss

Coffee chain Harris + Hoole has made a pre-tax loss of £12.8m in its year-end results.

Aryzta Food:
the company has seen positive growth in its first quarter
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Aryzta reports European revenue rise for first quarter

Aryzta, the Swiss frozen bakery giant, has seen revenue up 7% for Food Europe to £320.1m (404.1m), in its first-quarter trading statement.

Three of Cheshunt Eight leave Tesco

Three of the suspended Tesco executives have reportedly left the company.

Finsbury Food Grouop
Finsbury Food Group's chairman Steve Baker
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Finsbury bosses to benefit from share issue

The chief executive and finance director of Finsbury Food Group have been issued shares to the value of more than £146,000. 

NBPO's Liverpool refinery
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NBPO see sales soar while take over plans are stalled

New British Palm Oil (NBPO) has seen sales for the first nine months of 2014 rocket to £320.7m ($503m) from £274.9m in the previous year.

United Biscuits
United Biscuits signs three-year deal with Cargill
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UB and Cargill strike deal on chocolate

United Biscuits (UB), the international manufacturer of biscuits, has signed a three-year partnership with a fellow international producer to focus on its sweet biscuits. 

ON THE UP: SSP brands like Upper Crust are performing well
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Sales up 4% at SSP

SSP, the global giant behind travel brands such as Upper Crust and Caffè Ritazza, has seen revenue increase by 4% - helped by a strong performance in the UK.

The company sells fine cakes, pastries and gateaux
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Patisserie Holdings reveals big jump in revenue

Patisserie Holdings has reported this morning that revenue is up 27.5% to £76.6m while its main trading café brand Patisserie Valerie is up 20%. 

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