Finance

Predicted growth for out-of-home foodservice market

The British out-of-home (OOH) foodservice market will grow visits by 1.6% in 2016, according to global information company, The NPD Group (NPD).

Food firms sign letter opposing Brexit

A clutch of leading food firms have joined nearly 200 business leaders saying leaving the European Union would threaten jobs and put the UK's economy at risk.

Brakes Group sold to US firm for £2.2bn

Brakes Group, the food supplier that had purportedly been considering a flotation, has been sold to US company Sysco in a deal worth $3.1bn (£2.2bn).

ABF: earnings per share will miss targets

Associated British Foods (ABF), parent company of bakery brand Kingsmill, has warned that earnings per share will be lower than expected for its half year results, due out in April. 

Worst ever quarterly sales fall for Asda

Asda has seen sales fall 5.8% during the three months that include Christmas - its biggest quarterly sales fall on record.

Sainsbury’s leads the way by scrapping multi-buys

Sainsbury’s has become the first of the major supermarkets to commit to phasing out multi-buy deals, after mounting evidence that shoppers find them confusing and misleading. 

Tower Bakery agrees deal to supply local Tesco stores

Perth-based Tower Bakery has agreed a deal to supply Tesco with traditional Scottish bakery treats.

Supermarket special offers to be banned?

Major supermarkets are under official investigation after it emerged that questionable special offers encouraged shoppers to spend, not save.

Tate & Lyle on track for forecast profit

Tate & Lyle, the bakery ingredients supplier, said it expected full-year reported adjusted pre-tax profit to be "modestly below" last year’s full-year figures.

Bakkavor delivers strong ebitda growth despite revenue slump

Food manufacturer, Bakkavor, has seen adjusted UK ebitda grow 10% from £112.9m to £124.1m for the 52 weeks to 26 December.

Real Good Food acquires Chantilly for £1.75M

Frozen desserts supplier Chantilly Patisserie will be run as a trading division of Haydens Bakery, a wholly owned subsidiary of Real Good Food (RGF). 

Grocery market grows, with further success for discounters

The latest grocery share figures from Kantar Worldpanel showed the British grocery market returning to slow growth, after a disappointing Christmas period.

United Biscuits confirms national biscuit shortage

United Biscuits (UB), which owns the McVitie’s, Jacobs and Go Ahead brands, has admitted the flooding of its Carlisle factory has resulted in a nationwide shortage of its biscuits.

Real Good Food’s share price falls 20%

Food ingredients and bakery supplier Real Good Food (RGF) saw share prices drop 20% after it warned that profits for the year would not hit market expectations.

Bad Brownie wins Dragons Den investment

The London brownie company won a £60,000 investment from the dragons.

Real Good Food warns it will miss profit expectations

Real Good Food (RGF), the food ingredients and bakery supplier, has warned profits for the year ended 31 March will not hit market expectations.

New director for Finsbury

Finsbury Foods, the retail and foodservice bakery group, has a new non-executive director in Marnie Millard.

Northern Irish bakery wins Dubai contract

Grahams Bakery in Northern Ireland has won a contract to supply its baked goods to a United Arab Emirates (UAE) supermarket giant.

“Groundbreaking” ColdBake plans to enter bakery sector

Northern Irish company, Carritech Research, plans to bring ColdBake to the bakery industry – products are cooked at 47 degrees or under, so no nutritional value is lost.

Bidvest revamps own-brand bakery

Bidvest Foodservice, the wholesale retailer, has released a range of bakery goods as part of a major relaunch of its own label products.

Pukka Pies sales up but profits down

Independent pie manufacturer, Pukka Pies, has reported a “satisfactory year”, with a pre-tax profit of £4.3 million in the year to 25 May. 

UK economy expands 0.5%

The UK economy expanded by 0.5% in the final three months of last year.

SSP reports strong first quarter

SSP Group, the travel location food and drink brand operator, has reported a like-for-like (LFL) sales increase of 4.3% for its first quarter. 

Coffee Republic strikes new deal with Midcounties Co-operative

The Midcounties Co-operative has launched a new franchise partnership with coffee chain Coffee Republic.

2016 US wheat harvest expected to shrink

The US wheat crop could be the lowest since 2006, according to a report by the Agriculture & Horticulture Development Board (AHDB).

Tesco reprimanded over treatment of suppliers

Supermarket giant Tesco will be censured by the Groceries Code Adjudicator (GCA), following a year-long investigation into its payment terms.

William Jackson reports pre-tax profit of £18m

William Jackson Food Group (WJFG) has seen pre-tax profits rise to £18m for the year ending 25 April 2015, from £15.8m the year before.

Greencore reports positive Q1 revenue growth

Greencore, the convenience food manufacturer, has reported revenue growth of 7.2% to £356m for the 13 weeks to 25 December.

MSK Ingredients receives £750K funding

Online food and ingredients supplier MSK Ingredients is set to expand, following investment from Santander.

New £100M investor for Bakkavör

An American hedge fund has invested in excess of £100M in Britain’s biggest prepared fresh foods supplier.

Premier Foods reports strong Q3 sweet treats sales

Premier Foods, the St Albans-based food group, posted positive Q3 sales growth of 6.5% for its sweet treats division against the backdrop of a virtually static group performance of 0.1% growth.

Steve Loughton, managing director at Jestic Foodservice Equipment
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Sveba-Dahlen awards sole UK contract to Jestic

Jestic Foodservice Equipment, the food manufacturing machinery company, has been awarded the sole UK distribution right to Sveba-Dahlen machinery.

Raise Bakery pays Living Wage to staff

Raise Bakery, the Worthing-based cake maker, has pledged to pay its staff the Living Wage of £8.25 per hour.

General Mills confirms Berwick closure

General Mills UK, which manufactures Jus-Rol pastry, is to close its Berwick bakery following a review of the business.

Prince Charles visiting the flooded factory
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United Biscuits restarts production at flood-hit Carlisle factory

United Biscuits (UB) has restarted production of McVitie’s Gold biscuit bars at its Carlisle factory, after the site was devastated by floods in the wake of Storm Desmond.

Good year for Irish bakery exports

Bakery exports from Ireland increased by over 35% in 2015 and are now valued at around €185 million, based on sales figures from January to September 2015. 

H1 sales up by 46% at Finsbury

Finsbury Food Group, the UK bakery group, has seen its total company sales increase by 46% to £156.6m in its first half.

Allied Bakeries reports increased sales in challenging times

Kingsmill owner Allied Bakeries achieved a substantial increase in sales volumes for the 16 weeks ending 2 January, “although pricing and margins remain challenging”.

Greggs’ trading update triggers share-price tumble

Greggs, the high street bakery chain, suffered a sharp drop in share price as it reported a slowdown in its like-for-like (LFL) sales growth.

Irwin’s ends year in the red, despite £29.6m turnover

Irwin’s bakery has reported a turnover of £29.m, but also a loss of £128,574 for the year ending 29 March 2015. 

Southern Co-op Christmas LFLs up 4.7%

Convenience store retailer The Southern Co-operative saw a like-for-like (LFL) sales increase of 4.7% across the three weeks to 3 January.

Sainsbury’s sales good despite LFL drop

Sainsbury’s suffered a 0.4% drop in like-for-like (LFL) retail sales, excluding fuel, for the 15 weeks to 9 January 2016 – despite trading well over Christmas.

Five things YOU can learn from Greggs today

British Baker highlights some of the key take-outs from the Greggs fourth-quarter update today. Where is the company heading and what will its full year results look like?

Discounters benefit at Christmas amid 0.2% drop in grocery sales

Continuing price deflation meant there was no Christmas uplift for the British grocery market as sales fell 0.2% on last year. But Waitrose, The Co-operative and Sainsbury’s successfully grew ahead of the market. 

Morrisons’ trading down but improving, 2015 LFLs up 0.2%

Supermarket chain Morrisons is “working to improve” as company like-for-like sales (LFLs) excluding fuel increased 0.2% in the nine weeks to 3 January.

Greggs trading in line with expectations, 2015 LFLs up 4.7%

Bakery chain Greggs said it expected its full-year results to be “in line” with previous expectations – after announcing company like-for-like sales (LFLs) increased by 4.7% in 2015.

M&S to add fibre to all bread

Marks & Spencer (M&S), the food and clothing chain, has announced it will become the first UK retailer to start adding fibre to its entire range of pre-packed bread and rolls.

Subway launches mobile advertising campaign

The Subway sandwich chain has launched a series of promotional activities as part of a bid to encourage traffic into stores in the first-quarter period.

Bakers report strong Christmas sales

Craft bakers have reported a strong Christmas trading period as it was revealed that sales of cake, pudding and confectionary surged by 8.3% in supermarkets.

Piero Scacco, director at Montana Bakery
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Montana Bakery suffers profit drop

Montana Bakery, the artisan wholesale bakery, has reported a slump in operating profit from £1.3m to £1.2m for the 12 months to 28 March 2015.

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