Macphie profits down
Scottish food ingredients group Macphie saw its operating profit fall by almost a third, due to an increase in raw material and distribution costs despite an increase in turnover. The company has revealed that its operating profit for the year to March 2011 was £1.4m, down from £2m the year before, which was short of the board’s expectations.
Costa Coffee has seen like-for-like sales rise by 3.8% in the 13 weeks to 1 December 2011. From 1 January, the brand will be split into Costa UK Retail; Costa Europe, Middle East and India; Costa Asia; and Costa Enterprises, with each division having its own managing director.
Patisserie in top 100
Patisserie Valerie has been listed as one of the top 100 privately-owned businesses showing the fastest-growing sales over the past three years. Positioned at number 52 in The Sunday Times Virgin Fast Track 100 List, the company has seen sales grow 68% a year from an annualised £7.1m in 2007 to £33.4m in 2010.
Tesco’s share drops
Tesco’s third-quarter interim results revealed a market share drop from 30.7% to 30.5% year-on-year in the 12 weeks to 27 November 2011. The retail giant saw a 0.9% decline in revenue at UK stores open at least a year, with overall sales up 3.8% on last year.