Finance

United Biscuits part of new firm

United Biscuits (UB) owner Yildiz Holdings has combined its global biscuits and confectionery businesses to form a new company worth £3.57bn ($5.2bn).

Sainsbury’s reports ‘solid’ start to year

Sainsbury’s has reported a slight 0.8% drop in Q1 like-for-like retail sales (excluding fuel).

Tesco to sell Giraffe

Tesco is expected to announce the sale of its Giraffe restaurant chain, which has reignited speculation that the Euphorium bakery chain and coffee shop chain Harris + Hoole will be next.

Tiptree sales up 10.6%

Essex-based jam and marmalade maker Tiptree has increased sales by 10.6% to exceed £40m for the first time, but profits were affected by abandoned factory expansion plans.

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”.

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