The weakness of the pound has hit food manufacturers’ profits, despite a rise in export orders over the past three months, according to the Confederation of British Industry’s (CBI’s) latest quarterly Industrial Trends Survey.
Meat producer Hilton Food Group has reported a positive outlook for 2017 – with plans for further global expansion – in a trading update for the 52 weeks ending January 1 released this week (January 12).
Food producers that limit themselves to short-term innovation are missing out on the same commercial opportunities exploited by smaller firms and start-ups, the head of a research company has suggested.
Morrisons can expect financial problems ahead caused by store closures, Brexit and the National Living Wage, HSBC Global Research predicted ahead of the retailer’s third-quarter trading update on November 3.
Associated British Foods (ABF) has reported a 3% rise in revenue during its third-quarter compared with the same period last year, as the business benefited from the weakening pound after the UK vote to quit the EU.