Finance

Employment hits fastest rate since 2007, claims CIPD

UK employers are hiring staff at the fastest rate since before the financial crash, according to latest reports.

Aldi and Lidl hold strong as competition heats up

Once again, Aldi and Lidl have continued to dominate market share, while market growth hit its lowest level in 11 years.

Sainsbury’s reports boost in profits, as own-brand sales flourish

Sainsbury’s has revealed a 5.3% increase in pre-tax profits to £758m for the year to 15 March.

Pieter Totte, executive chairman of The Real Good Food Company
  (Photo:  )

Sugar dispute blow for The Real Good Food Company

Bakery ingredients supplier The Real Good Food Company (RFGC) has warned that an ongoing dispute with British Sugar will hurt its underlying profits.

Orchard Valley Foods buys food ingredients firm

Orchard Valley Foods has acquired a rival company in a deal which it said will boost sales to more than £20m a year.

Costa sees LFLs and profit growth

It seems the nation’s thirst for coffee shows no signs of abating - as Costa revealed like-for-like sales (LFLs) growth of 5.7% this morning.

Starbucks reports first sales drop in 16 years

Starbucks has reported a drop in UK sales for the first time in its 16 year history, and revealed it closed 44 branches last year.

Premier sees Q1 drop in sales

Premier Foods, parent company of Hovis bread and Mr Kipling cakes, has reported a 6.2% slump in sales in the first quarter of the year.

ABF revenue down, but Allied Bakeries stays strong

Associated British Foods, the group behind Kingsmill, has announced that group revenue is down 2% to £6.2bn in the 24 weeks to 1 March, due to food commodity deflation.

2 Sisters records pre-tax operating loss

The 2 Sisters Food Group has reported a £13.3m operating loss before taxation for the 52 weeks ended 27 July 2013 – up from a loss of just £1.3m the year before.

Starbucks moves European HQ to London

Global coffee chain Starbucks will move the regional headquarters of its Europe, Middle East and Africa business from Amsterdam to London by the end of 2014.

West Cornwall Pasty Company bought from administration

West Cornwall Pasty Company has been rescued out of administration by a new investment fund, for an undisclosed sum.

Daelmans Group snaps up Fabulous Bakin’ Boys

The Fabulous Bakin’ Boys has been bought by the Dutch bakery business Daelmans Group for an undisclosed sum.

Bakery helps boost food performance at Marks & Spencer

Marks & Spencer said bakery remained a key focus area as it posted news of strong food sales in its fourth-quarter (Q4) trading statement this week.

AAK acquires Belgian CSM rival

AAK has acquired an oils and fats business of CSM that caters for the French, Belgian and Dutch markets for an undisclosed sum.

2 Sisters to invest in bakery, appoints new head

2 Sisters Food Group has appointed Lochlain Feeley to the newly created role of bakery managing director.

Finsbury: profits up, slashes debt

Bread and cake maker Finsbury Food Group revealed this morning its operating profit increased by 5.2% to £2.6m in the first half of the year to 28 December 2013.

UK food exports up, Chinese market doubles

Total UK food and non-alcoholic drink exports grew 5% to £12.8bn in 2013, according to the Food and Drink Federation (FDF).

2 Sisters sees increased loss and debt in Q2

The makers of Fox’s biscuits and Goodfellas pizzas has announced widening losses and increased debt in its second-quarter results.

Sainsbury’s suffers in fourth quarter

Sainbury’s has revealed its fourth-quarter like-for-like sales (LFLs) were down 3.8% and said last year it had benefited from the horsemeat crisis during the same period.

Supermarket price war fears

Fears of a price war between supermarkets and discounters yesterday saw around £2bn wiped off the combined value of Tesco, Sainsbury’s and Morrisons shares.

Morrisons to restructure following pre-tax loss

Morrisons has launched a major restructure of its business after announcing a loss for the year to February 2014.

Rise in national minimum wage

The national minimum wage will increase by 3% in October this year, the government has announced.

Greggs makes two board changes

Greggs, the bakery retail chain, has appointed two new non-executive directors.

Premier Foods to meet unions over Hovis developments

The senior management of Premier Foods is to meet with union bosses to discuss Hovis workers affected by the partial sale of the bread brand. 

Krispy Kreme grows Scottish presence

Doughnut retailer, Krispy Kreme, has started an expansion drive across Scotland, after opening a factory shop in Edinburgh in February 2013.

Greggs’ profits fall in challenging market

Greggs has seen an 18.9% fall in pre-tax profit following competitive trading conditions, according to latest figures.

ABF: sugar prices to hurt profits

Associated British Foods (ABF) – the company behind Kingsmill – has revealed that lowering sugar prices would impact its profits in the year ahead.

Italy complains about “traffic light” food labelling

Italy has complained over the UK’s use of voluntary colour-coded food labels, claiming the system is discriminatory.

Unemployment rate rises to 7.2%

The rate of unemployment has risen to 7.2%, according to the latest figures.

Costa MD to head high street initiative

Costa Coffee’s managing director Jason Cotta will head a new initiative to revive the UK high street.

Eating out sector to reach pre-recession heights

The UK’s eating out sector is forecast to grow 3% in value, to £82.5bn, over the next 12 months, despite an increasingly competitive trading environment.

Tate & Lyle warns on profit decline

Falling artificial sweetener prices will impact Tate & Lyle profits, the company has warned.

Grocery market growth falls to 2.4%

Aldi and Lidl dominated sales growth once again, as overall grocery market growth hit its slowest rate since 2005, new figures show.

Britain has ‘too many shops’ claims LDC

As shop vacancy rates fall below 14% for the first time in four years, the Local Data Company’s (LDC) director has claimed Britain has too many shops.

Brace’s Bakery sees £1.2m pre-tax profit

Welsh bakery Brace’s has reported pre-tax profits of £1.2m for the year ended 30 September 2013.

UK economy grows 0.7% in Q4

The UK economy grew by 0.7% in the final quarter of the year, according to the latest results.

Whitbread chairman to step down

Whitbread plc, owner of Costa Coffee, has announced that Anthony Habgood will step down as chairman later this year.

Acquisition drives growth at Barry Callebaut

Sales volumes at Barry Callebaut have increased by 19.5%, following the acquisition of the Cocoa Ingredients Division of Singapore-based Petra Foods last summer.

Exclusive: management changes at Macphie

Bakery ingredients manufacturer Macphie has announced a management restructure, with current chief executive Alastair Macphie moving to the role of executive chairman.

Aldi and Lidl show continued sales growth

Aldi and Lidl continue to show strong sales growth, according to the latest results.

UK inflation hits 2% target

The UK inflation rate fell to 2% in December, from 2.1% the previous month.

Carr’s Milling sees net debt increase

Carr’s Milling Industries net debt has risen by £6.1m, according to latest reports.

SSP denies advisor appointment

British food outlet operator Select Service Partner (SSP) has denied the appointment of advisors for initial public offering (IPO).

Tesco sees 2.4% decline in LFL sales

Tesco has reported a 2.4% decline in like-for-like (LFL) sales during the Christmas period, according to latest results.

M&S records 1.5% LFL food increase for Christmas

Marks & Spencer (M&S) has seen a 1.5% increase in like-for-like (LFL) food sales during the Christmas period, according to its latest results.

Greggs sees 2.6% LFL increase in Q4

Greggs has seen an increase of 2.6% in Q4 like-for-like (LFL) sales following “strong demand” during the Christmas period, according to its latest trading results.

Co-op sees positive food sales over Christmas

The Co-operative Group has seen a like-for-like (LFL) sales increase of 1% during the Christmas period following strong food sales.

UK coffee shops to exceed 20,500 by 2018

The UK coffee shop market will exceed 20,500 outlets by 2018, according to latest reports.

Hain Celestial to sell Daily Bread

USA-based The Hain Celestial Group has signed a letter of intent to transfer its sandwich business Daily Bread to a strategic buyer.

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