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Breaking News on the Food and Drink Manufacturing Sector

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Dairy Crest set to profit from spreads

Dairy Crest will reap big rewards from its spreads business, Shore Capital analyst Darren Shirley claims, raising his profit forecast for the division by £26M as he covered its interim...

Black critical of Ocado’s profit gains

Leading analyst Clive Black was withering regarding Ocado’s move into profit for the first time since its launch 15 years ago.

Seabrook Crisps boss investigates investment

Seabrook Crisps could “investigate areas for potential investment” to speed up growth after appointing independent corporate finance advisor McQueen, according to ceo Jonathan Bye.

ABF takes £98M hit on its ethanol joint venture

Associated British Foods (ABF) has blamed low oil prices and the weakening euro for its £98M write down on its investment in the joint venture bioethanol business Vivergo Fuels.

Former Tesco execs get £2.2M pay-off after all

Tesco has agreed to pay ceo Philip Clarke £1.2M and chief financial officer Laurie McIlwee £970,000 in damages, having suspended payments following their 2014 departure from the business.

Vimto puts a great sparkle into Nichols' trading results

Vimto soft drinks maker Nichols has reported positive trading results for the second half of 2014, in a statement released last month.

Bright Food to eat up all its Weetabix

Weetabix has refused to confirm or deny whether one of China’s largest food companies is preparing to buy out the firm completely, despite city analysts calling the move “inevitable”.

Opinion

Expect to see seismic changes from retailers

Suppliers to the retail sector can expect seismic changes in their relationships with customers over the year ahead as the multiples attempt to fight back against the rise of the...

Supermarket price war ‘saves shoppers £5/week’

The supermarket price war has saved shoppers up to £5 a week over the past year, according to an independent shopping and comparison website.

Cranswick results ‘buck grocery trend’

Cranswick’s third-quarter results, boosted by strong Christmas sales, continued to buck the flat or downward trend in the UK grocery market, said City analysts.

Food and drink M&A driven by retail market

Food and drink manufacturing mergers and acquisitions (M&A) have been mainly driven by intense competition in the UK retail sector, according to analysis from Grant Thornton.

Food exports could suffer after Greek election result

Food and drink manufacturers’ exports could be threatened by the recent Greek election result, if the successful Syriza party destabilises the euro, warns a specialist foreign exchange provider.

Chilled food helps Greencore beat chilly market

Chilled products and food-to-go drove Greencore’s global growth in its first financial quarter (Q1), the company has reported.

Business leaders’ forum

Business forum gave access to top food execs

Unrivalled access to top food and drink manufacturing executives was the top reason singled out by the sponsors of the Food Manufacture Group’s Business Leaders’ Forum for backing the event....

Waitrose’s new 2,000 job plan to boost manufacturing

Waitrose’s plan to create 2,000 new jobs in stores and a new e-commerce grocery depot this year is expected to boost the retailer’s manufacturing businesses.

Fine food firm Bennett Opie aims at doubling sales

Bennett Opie aims to double sales from £25M to £50M in five years and has opened a new warehouse facility as it seeks to boost UK and overseas business.

Business Leaders' Forum

Business Leaders’ Forum – in quotes

Obesity, skills and the changing retailer landscape were some of the key issues debated at last week’s Business Leaders’ Forum at the Walkie Talkie building in central London.

Findus’ performance may hook acquisitive investors

Findus Group’s UK arm has become a more attractive acquisition target after the global business confirmed it had experienced its second consecutive year of positive growth, although it has denied...

Business Leaders' Forum

Prepare for election threats and opportunities

Food and drink manufacturers should prepare for the threats and opportunities arising from the General Election in May, according to law firm DWF.

Quorn gears up for massive NPD push

Quorn has revealed plans for substantial new product development (NPD) activity this year, including gluten-free and vegan lines, which it expects to fuel UK and international growth.

Morrisons’ revival relies on manufacturing: new boss

Morrisons’ food manufacturing links will play a key role in restoring the fortunes of the troubled retailer, which will take up to five years, says its new chairman Andrew Higginson.

Business Leaders’ Forum

Business leaders tackle fat tax at industry forum

Debate about taxing ‘unhealthy’ foods provoked division at Food Manufacture’s Business Leaders’ Forum and was a top hot topic singled out by Geoff Eaton, chairman of New England Seafood International....

Premier Foods’s sales continue to slide

Premier Foods has reported another fall in sales for the fourth quarter of last year, while reaffirming its pledge to drive down costs .

Cross-party group to tackle supply chain bullying

The Federation of Small Businesses (FSB) has assembled a cross-party group of members of parliament (MPs) to tackle supply chain bullying following criticism of the practices of 2 Sisters Food...

Business Leaders' Forum

Greencore ceo: profit collapse a top industry trend

A “catastrophic collapse” in retail profitability was one of five top food industry trends highlighted by Greencore ceo Patrick Coveney at Food Manufacture’s Business Leaders’ Forum on January 20.