Finance

Oliver Adams saved from collapse

Oliver Adams, the Northamptonshire bakery chain which recently closed 11 sites, has entered into a Company Voluntary Agreement (CVA) – in a bid to save the company.

Cookie Crumbles to export to Middle East

London-based baking mix producer Cookie Crumbles has announced it will sell products across the Middle East. 

Tate & Lyle profits up by 5%

Ingredients maker Tate & Lyle has posted flat sales but has seen a boost to profits, with unadjusted pre-tax profits rising from £25m to £126m.

Oliver Adams to close nine bakeries

Northampton bakery Oliver Adams closed two outlets, and will close nine in total. It has said it is restructuring, because some outlets are “losing money hand over fist”.

ABF’s Illovo acquisition confirmed

Kingsmill owner Associated British Foods (ABF) has confirmed that its proposal to move to full ownership of Illovo Sugar will go ahead. 

M&S food ‘outperforms a competitive market’

Profits at Marks & Spencer (M&S) dropped by a fifth, it announced in its full-year results today. But food fared better than its other divisions, despite “difficult trading conditions”.

Costa Coffee starts accepting Android Pay

Costa Coffee has announced it is accepting payment with the Android Pay app at participating stores.

Warburtons most-bought FMCG brand

Bread giant Warburtons has topped a list of the UK’s most-bought fast moving consumer goods (FMCG) brands. There are four bakery brands in the top 10.

Foodservice growth rate to slow by end of year

The UK foodservice market is continuing to grow, according to foodservice consultancy Horizon, although the rate of growth is expected to slow.

SSP reports profit leap

SSP, the travel location foodservice brand operator, has reported a 41.5% surge in underlying profit before tax from £16.4m to £23.2m for the six months to 31 March 2016.

McCormick was a ‘phantom bid’ says Premier

Gavin Darby, chief executive of Premier Foods, has said a firm bid from the American spice firm never happened. 

5 things to learn from Patisserie Holdings

Patisserie Holdings, which owns the high street bakery chain, released its results today. We take a closer look at what they mean for Patisserie Valerie. 

Patisserie Holdings ebitda up 21.3%

Patisserie Holdings, owner of high street bakery Patisserie Valerie, saw ebitda increase 21.3% to £10.6m, and revenue grow 14% to £50m, up from £43.7m in the first half of the last financial year.

Premier Foods reports £86.1m profits

Premier Foods, the manufacturer of Mr Kipling and Cadbury cakes, has reported a 3.5% rise in pre-tax profits to £86.1m for the year to the start of April.

Renshaw partners with software provider

Baking ingredients manufacturer Renshaw has partnered with Coventry-based PCMS Group to help manage and build client relationships. 

Jason Cotta new MD for Costa UK

High street coffee chain Costa Coffee has appointed a new managing director for the UK and Ireland in Jason Cotta.

Bakkavör reports “solid revenues” in Q1

Fresh prepared foods manufacturer Bakkavör has reported £415.8m revenue in its first-quarter results for the 13 weeks to 26 March.

Krispy Kreme agrees to US sale

The US doughnut company Krispy Kreme has agreed to be bought by Kenco coffee owner, JAB Holding, for £935m ($1.35bn).

Hotel Chocolat’s shares rocket following stock market debut

Hotel Chocolat, the upmarket confectioner, has seen shares surge after the company listed on the stock market for the first time this week.

Elizabeth Shaw bought by Colian

British chocolate brand Elizabeth Shaw has been acquired by Polish confectionery producer and distributor Colian Holding SA.

Partial sale of bakery supplier BFP Wholesale agreed

Part of the collapsed bakery ingredients supplier BFP Wholesale has been bought by a firm which is run by a director of Kent Foods for an undisclosed sum, British Baker can reveal.

Paul increases turnover to £28.7m

Turnover at French bakery and café Paul is up 17% in its results for the year ended 31 December 2015, and group turnover increased to £28.7m.

Greggs sales up thanks to sandwiches

Greggs, the high street bakery, has reported like-for-like (LFL) sales were up 3.7% for the first 18 weeks of the year, which it credited to hot sandwiches and breakfasts.

Food to go boosts sales at Morrisons

Morrisons has reported a second quarter of rising like-for-like (LFL) sales, as it continues to cut costs and prices, although total sales fell due to store closures.

West Cornwall Pasty Co sales up 20%

Pasty operator West Cornwall Pasty Co (WCPC) has reported like-for-like (LFL) sales are up 20% for the year ending 31 March.

Big four supermarkets see sales slide

The grocery market continues to struggle, with the big four supermarkets all suffering a drop in sales for the 12 weeks to 24 April, and Asda faring the worst according to Kantar Worldpanel. 

Sainsbury’s underlying profits down 14%

Sainsbury's has announced a fall of 14% in underlying yearly profits in its trading update, but saw a turnaround in pre-tax profits, which were up by £620m.

Whitbread acquires Pure stake for £6.8m

Costa Coffee owner Whitbread has announced that it has acquired 49% of London-based food-to-go chain Healthy Retail Ltd, which trades as Pure, for £6.8m.

Asda to change "misleading" promos

Supermarket giant Asda has agreed to make changes to “misleading” promotional practices as part of a wider crackdown by The Competition and Markets Authority (CMA).

Village Bakery wins south Wales Tesco contract

Wrexham-based Village Bakery has struck a deal to supply 27 Tesco stores in south Wales, adding to the 16 it already sells to in north Wales.

Major shareholder accuses Premier Foods of ‘arrogance’

A major shareholder has accused Premier Foods of “arrogance” in its handling of US suitor McCormick.

Costa sales up 15.7%

Costa Coffee owner Whitbread has reported that UK retail sales at Costa were up 15.7% in the year ending 3 March.

Dumfriesshire bakery sells to garage firm

Dumfriesshire-based Gretna Bakery has been sold for an undisclosed sum to garage business Hills of Lakeland.

Waitrose exports biscuits to China

The supermarket has started to sell its Waitrose Duchy Organic biscuits to China, as part of a new deal to export to the country for the first time.

New export guidance from FDF and FDEA

The new guidance for food and drink manufacturers from the Food and Drink Federation (FDF) and the Food and Drink Exporters Association (FDEA) is designed to help exporters compete in the global marketplace. 

Pret sales up thanks to breakfast

High street coffee chain Pret A Manger’s financial results for the 52 weeks to 31 December 2015 showed group sales were up 13.9% year on year (YOY) to £676.2m (+7.5% like-for-like). Ebitda was up 14.5% to £84.3m. 

ABF profits up despite “challenges” in bakery

Kingsmill owner Associated British Foods (ABF) has seen grocery profits rise, despite a fall in sales and “challenges” within the UK bakery market.

William Jackson Food Group acquires health food brand

William Jackson Food Group has acquired healthy snacking and bread brand The Food Doctor for an undisclosed sum.

Coffee sales to hit over £3bn in 2016

Coffee shop's sales are expected to hit £3.14bn this year, according to new research by Mintel.

Online grocery boom worth £8.6bn last year

One in four consumers now shops for groceries online, according to a new survey by Mintel.

Premier Foods criticised by leading shareholder

Premier Foods has come under fire from a leading shareholder after McCormick walked away from negotiations to buy the Mr Kipling producer.

McCormick drops bid for Premier Foods

US spice brand McCormick has walked away from talks to buy Mr Kipling-maker Premier Foods after examining its books.

Tesco records first quarterly sales growth in three years

Supermarket giant Tesco reported a £162m pre-tax profit for the year to 27 February, its first quarterly sales growth since 2013.

Caffè Nero scraps free staff lunches following NLW

High street coffee chain Caffè Nero has stopped giving its staff free lunches, in response to the National Living Wage (NLW), which came into effect on 1 April.

Christopher Rogers, outgoing MD of Costa Coffee
  (Photo:  )

Costa MD resigns

High street café Costa Coffee has announced that managing director Christopher Rogers is to step down.

Tesco rumoured to be selling off Euphorium and Harris + Hoole

Tesco is reportedly on the verge of selling its offshoots Euphorium Bakery and the coffee shop chain Harris + Hoole.

Carr’s Group ekes out profit rise despite fall in revenue

Carr’s Group has reported a small 0.5% rise in operating profit to £9.6m for the six months ended 27 February 2016, despite a 9.4% plunge in revenue to £189.1m.

ABF acquires majority Illovo stake for £262m

Kingsmill owner Associated British Foods (ABF) is to spend £262m to buy up the remaining stake in Illovo Sugar.

Co-op boss takes pay cut as profits dip

The Co-operative Group has reported 3.3% underlying profit growth in food sales, up to £250m for the 52 weeks to 2 January 2016.

M&S food sales up 4% in Q4

In its fourth-quarter trading update issued today (7 April), Marks & Spencer (M&S) has reported that food sales were up 4%, in contrast to its “unsatisfactory” clothing and home division.

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