Morrisons has revealed a rise in sales and profits for the first half of this year in its interim results, released yesterday (September 14), as it sees results from its ‘Fix, rebuild and grow’ strategy.
Food and drink manufacturers need to be more honest about retailer malpractice if they want supply arrangements to improve, the Groceries Code Adjudicator (GCA) has warned.
A shake-up of England’s transport and communications infrastructure is needed to give manufacturers access to a wide pool of labour and improved connectivity of supply chains, according to a Confederation of British Industry (CBI) report.
Manufacturers need to adapt their supply chains to the latest technologies or risk losing out to the competition, warned logistics specialist Fowler Welch.
French dairy and nutrition company Danone has launched a cost-cutting and efficiency scheme, designed to save €1bn (£850M) by 2020, after its European sales fell 1.4% last year.
Morrisons’ chief executive David Potts praised the retailer’s “food makers and shopkeepers”, after it reported its strongest sales performance for seven years in a Christmas trading update.
Tesco’s “momentum is returning”, according to city analysts, after the supermarket firm posted a seventh consecutive quarter of volume growth in its half-year update today (October 5).
Morrisons is making progress towards strengthening its business and fulfilling six strategic priorities, claimed a financial statement accompanying the retailer’s first-half results, posted earlier this month.
Morrisons’ chief executive David Potts has thanked the retailer’s “food makers”, after the business reported rising like-for-like sales and profits in first-half results posted on September 15.
Kellogg reported better than expected results in its second-quarter trading update, driven by lower costs and higher profit margins, despite falling sales and fears of Brexit backlash.
Morrisons has reported its second quarter of rising like-for-like (LFL) sales, in results covering the 13 weeks to May 1 and, again, highlighted its role as “a food maker”.
Morrisons has revealed falling like-for-like sales and profit, in full-year results to the end of January, as ceo David Potts highlighted the retailer’s role as “a food maker”.
Premier Foods is making “demonstrable progress in self-improvement across the board”, according to analysts who met the company last month following a recent trading update.
Morrisons has posted like-for-like sales, excluding fuel, up by 0.2% for the nine weeks to January 3, in what one city analyst described as “a morale boost to sector sentiment”.
Morrisons sales continue to slide – with like-for-like sales, excluding fuel falling by 2.6%, blamed partly on a reduction in promotional vouchers – in third-quarter results posted this week.
Tesco has posted a 55% slump in first-half underlying profit to £354M from £779M last year, the day after its boss Dave Lewis pledged to standardise payments to its suppliers.
A new consortium called ‘Food is Life’, which aims to introduce ‘disruptive change’ to the food industry in Africa, is being launched at this month’s Processing & Packaging Machinery Association (PPMA) show.
Political parties should stop narrow-minded bickering and blame-driven politics and instead focus on boosting manufacturing skills and jobs, manufacturers have claimed.
Support offered to small firms by Local Enterprise Partnerships (LEPs) is “ineffective and holding back the growth prospects” of British businesses, including food manufacturers, according to the Federation of Small Businesses (FSB).
Finsbury Food Group has won the Bakery Manufacturing Company of the Year trophy in the industry’s Oscars, ahead of a financial update which looked forward to improved profits next year.
Greggs boss Roger Whiteside received praise from City analyst Shore Capital, after the high street baker reported total sales up by 3.1% to £373M in first half results to June 28.
Boparan Holdings, the holding company for 2 Sisters Food Group, has reported strong progress in its third financial quarter (Q3), with its protein division contributing significantly to sales and profitability.
Rising raw material costs have endangered 150 jobs at Kerry Foods’ savouries and pies factory at Poole, Dorset, in what trades union Unite calls “a major blow” for the area.
Greggs is showing encouraging signs of transforming its fortunes by “resurrecting like-for-like sales”, said City analyst N+1 Singer, after the high street baker released preliminary results for the 52 weeks to December 28 2013.
Iglo Foods Group has won the Supply chain initiative of the year award in the industry Oscars – Food Manufacture’s Food Manufacturing Excellence Awards (FMEAs), at the London Park Lane Hilton last month.
Premier Foods’ senior management must have had mixed feelings following the agreement reached with the Bakers, Food and & Allied Workers Union (BFAWU) towards the end of last month.
Supermarket group Morrisons under-performed its peers but set an improving trend in the first 13 weeks of the 2013/2014 financial year, said City analyst Shore Capital.
The UK’s largest poultry processor Moy Park has announced a strong recovery in trading performance for last year, with pre-profits up to £24.4M for 2012 for 2012, compared with £4.8M in 2011.
Celebrity chefs, including Loyd Grossman, Albert Roux and Heston Blumenthal, have backed a report from pressure group Sustain, which warns the government has wasted more than £54M on failed schemes to improve hospital food.
Justifying capital expenditure (Capex) in today’s tough economic environment is probably more difficult than ever. For many food and drink manufacturers, many investment plans have been put on hold – apart from the most essential items.
Cash flow for food manufacturers must be improving since they have significantly reduced the time it takes them to pay their bills, according to credit ratings firm Experian.
Increased demand for halal products has driven proteins supplier BHJ UK into that market after securing official certification for its Scanpro Beef 95 functional protein ingredient.
Record profits from its overseas supermarkets have propped up tumbling British sales at retail giant Tesco as the firm revealed it will invest £1bn in improving UK stores and cutting prices.
Too many food and drink companies are missing out on huge potential "hidden" cost savings in their operations, a expert in lean manufacture has claimed.
The Real Good Food Company (RGFC) is “on track” to double its size within three years after posting half year continuing profit before tax up 148% to £5.7M, said Pieter Totté, its executive chairman.
Britain's biggest food manufacturer, Premier Foods, has come under a lot of flak recently for the problems with its leadership, direction and strategy.
Trade union Unite has accepted an offer from Heinz to attend talks tomorrow aimed at resolving the ongoing dispute at its Kitt Green canning site, but has attacked the firm's "hypocrisy" over pay.
Marks & Spencer is aiming to deliver a 5% hike in availability in its food halls by 2013/14 as it rolls out a new forecasting and space planning system.
Ice cream maker R&R is well placed to make further sizeable acquisitions if it continues to improve margins, particularly in its French operations, according to credit ratings firm Moody's.