Finance

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%. 

Peter Baker:
Finsbury Food chairman
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Finsbury AGM outlines high hopes for Fletchers acquisition

Finsbury Food Group has said it is confident there will be increased growth and sales, thanks to the buy-out of Fletchers’ cake business earlier this year.

Greencore set for further growth in food to go sector
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Food to go drives Greencore growth

The UK’s leading sandwich and celebration cake company, Greencore, has outperformed the food to go market, with like-for-like revenue growth of 15.3% in the past year.

Fortnum & Mason enjoys busiest year in store history

Luxury retailer Fortnum & Mason has seen a 14% increase in overall sales for the year up to July 2014, compared to last year.

Gail's Bakery Barnes
  (Photo:  )

Gail’s opts for private over public growth

Gail’s Bakery has reportedly ended talks of stock market flotation, and will now focus on growing the business privately.

Crepe firm plans broad international growth

London-based Crepeaffaire is on the verge of major UK and international expansion plans with four new UK sites in the next four months.

Branded sales down for 2 Sisters

2 Sisters Food Group, owner of Fox’s Biscuits, has seen a fall in branded sales, down 3% for the full year.

First decline on record for grocery market
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Discounters continue to dominate, as overall grocery declines

Aldi and Lidl have continued to storm the grocery market, despite an overall decline in the sector since Kantar Worldpanel records began in 1994.

Positive results for Bakkavör
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Bakkavör bakery investment continues amidst revenue hike

Bakkavör has outperformed the food market, boasting a 4% growth in like-for-like revenues for the 39 weeks ended 27 September 2014.

Mike Coupe:
new chief executive at the supermarket
  (Photo:  )

Underlying profits and LFLs down at Sainsbury’s

Supermarket group Sainsbury’s this morning unveiled a 2.1% fall in like-for-like sales and said underlying profit had dropped by 6.3% to £375m.

Tim Davies:
Carr's chief executive
  (Photo:  )

Carr’s Milling hails record profits

Carr’s Milling Industries has announced another year of record profits in 2013/14, with EBITDA up 9.1% to £20.4m.

Tate & Lyle
Tate & Lyle results suffer from adverse weather
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Tate & Lyle profits tumble

Ingredients manufacturer Tate & Lyle has announced a 40% fall in first-half adjusted pretax profit at the top end of its range. 

Barry Callebaut
Juergen Steinemann expects challenging times
  (Photo:  )

Barry Callebaut sales volume up 11.8%

Swiss chocolate maker Barry Callebaut increased sales volume by 11.8% in the year to 31 August 2014, helped by the integration of the cocoa business acquired in June 2013. 

LFLs slump again, Morrisons insists it’s on track

Like-for-like sales suffered a 6.3% slump in the 13 weeks to 2 November 2014 at under pressure supermarket Morrisons.

M&S
M&S: good growth in food
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M&S food shows strong sales growth

Marks and Spencer (M&S) food business has reported like-for-like sales are up 1%. 

AB Mauri:
"strong turnaround" for the ingredients firm
  (Photo:  )

ABF reports turnaround for ingredients division

Associated British Foods (ABF) has described its bakery ingredients business AB Mauri as making a “strong turnaround” in its year-end results.

United Biscuits
United Biscuits: sold to Yildiz
  (Photo:  )

United Biscuits sold to Yildiz

The sale of United Biscuits (UB) to international biscuit manufacturer Yildiz Holding has been confirmed. 

Macphie
Creations to be made with Macphie ingredients
  (Photo:  )

Scottish ingredients firm enjoys rise in turnover

Independent bakery ingredients manufacturer Macphie has reported a 3.5% growth in turnover to £44.4m. 

UK living wage increases
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‘Living wage’ rate raised by 20p

The UK “living wage” has been raised by 20p to £7.85 an hour.

Starbucks
Starbucks: 19th consecutive quarter rise of 5% or more
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Starbucks sees 5% LFL sales growth in Q4 with UK at forefront

Coffee giant Starbucks has reported a 5% rise in global like-for-like sales with a “particularly strong performance in the UK” in Q4. 

NBPO:
the company have a Liverpool plant
  (Photo:  )

Independent panel gives thumbs-up to NBPO offer

A panel of independent advisors has described the potential £1.1bn takeover offer for New Britain Palm Oil (NBPO) as “fair and reasonable”.

Costa Coffee growth continued in H1
  (Photo:  )

Costa underlying profit up 20.5%

Costa Coffee, the Whitbread-owned chain, saw its first-half underlying profit increase by 20.5% to £52.4m, it revealed today.

Finsbury Food Group: we could buy again

Finsbury Food Group could acquire further businesses in its bid to grow and has predicted there will be further consolidation in the bakery sector in the next five to six years.

Finsbury and Fletchers: the build-up to the buy-out

Finsbury Food Group's acquisition of Fletchers Bakeries has shocked the industry today, creating a new £300m business. We look back at some of the key moves from the firms, that led up to today's buy-out. Below is an interactive timeline, click on the links to reveal the full stories. 

Finsbury acquires Fletchers for £56m

The private equity-owned Fletchers Group of Bakeries has been sold to Finsbury Food Group for £56m – a deal which will create one of the largest specialist bakery companies in the UK.

NBPO:
New Britain Palm Oil's dockside processing facility in Liverpool
  (Photo:  )

Update: NBPO 'welcomes' £1.1bn cash takeover

New Britain Palm Oil (NBPO) has welcomed a cash takeover bid of £1.1bn, subject to approval from shareholders, it has confirmed.

IGD chief executive predicts a £31bn growth in Convenience, discount and online retailing
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IGD forecasts continued change to retail landscape

Convenience, discount and online retailing are predicted to grow by more than £31bn in the next five years and claim 43% of the grocery market.

Warren Buffett
  (Photo:  )

Top investor Buffet admits "mistake" on Tesco

Warren Buffett, renowned US investor and world’s third richest man has admitted that investing in Tesco was a “huge mistake.”

Salted caramel:
Clam's Cakes delivers around the UK
  (Photo:  )

Clam’s Cakes set to hit £1m turnover

Handmade cake supplier Clam’s Cakes has predicted a turnover of £1m this year, after expanding into larger premises in Ebbw Vale, Wales.

Liverpool plant:
New Britain Palm Oil refinery in Merseyside
  (Photo:  )

Sale of major stake in NBPO collapses

The potential sale of nearly half of New Britain Palm Oil (NBPO) has fallen through, it has been announced.

Aldi profits boom

Aldi has announced a soar in profits after competitive prices attracted customers to the discounted supermarket.

Aryzta AG:
The company has invested £77.9m in bakery expansion
  (Photo:  )

Aryzta boosts revenue amid bakery investments

Swiss bakery group Aryzta has lifted European revenue, boosted by a reorganisation of its bakery and food solutions arm.

Handmade:
New shops in the pipeline for Patisserie Valerie
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Patisserie Valerie accelerates expansion plans

Patisserie Valerie has said it is currently opening “a store every two to three weeks”, this comes after its stock market floatation plans prove successful. 

Grocery inflation low
Inflation decrease means food costs are the same as last year
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Supermarket war continues as market reaches low

Competition within supermarkets has driven down grocery inflation to zero. 

Tate & Lyle said the severe winter in the US hit stock levels
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Tate & Lyle make profit warning

Tate & Lyle has warned on profit in its half year trading update, after bad weather in the US hits stock. 

Premier Foods restructure allowing honed focus on cakes

Premier Foods has announced the restructure of its commercial sector, creating three new Strategic Business Units (SBU’s).

UB attracts fresh interest

New bidders are believed to have entered the fray for United Biscuits (UB).

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