Meat processor Moy Park reported a 7.1% rise in like-for-like pre-tax profit to £18M in its second-quarter trading update, despite what it described as a “challenging market”.
Premier Foods reported a 9.3% drop in underlying profit to £117M in its full-year trading update, as the business vowed to focus on cost efficiency and revenue growth.
Nomad Foods, owner of Birds Eye and Findus, reported a 22.6% fall in profits in its fourth quarter of 2016, but claims to be considering strategic acquisitions in 2017.
Kellogg Company of Great Britain (Kellogg GB) has reported a 30% drop in pre-tax profit in its annual financial statement, after the firm cut 90 jobs last year.
Dairy Crest’s four key brands – Cathedral City, Clover, Country Life and Frylight – are expected to deliver combined volume growth in the first half of this year, according to the firm’s pre-close trading update for the six months to September 30.
Poultry processor Moy Park has posted underlying profit before tax up by 32% to £14.1M, due to improved efficiency and cost savings, in first-quarter results ended April 2 2016.
Three food and drink manufacturers have posted positive financial results, with Finsbury Food Group seeing a jump in revenue and Britvic and First Milk reporting profit rises.
Greencore's convenience foods division has achieved a 6% rise in like-for-like revenue to reach £1,290.2M in results for the year ended September 25 2015.
Magners producer C&C has reported “difficult trading conditions” in its core markets as operating profit fell 9.5% to 62.2M in the six months to August 31 2015.
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.
Morrisons, Britain’s second largest fresh food manufacturer and fourth largest retailer, has appointed Clare Grainger as its new group human resources (HR) director.
“Newcastle should be toasting, or is that sausage rolling Greggs today, after another impressive update,” is how city analyst Shore Capital summed up the high street baker’s half-year results.
Finsbury Food Group predicts its profit performance will “outperform expectations”, according to its latest financial update on trading for the full-year to June 27.
Sainsbury has been left “licking self-inflicted wounds” after its results announcement today (May 6), according to leading food industry analyst Clive Black.
Tesco has suffered a ‘dismal’, ‘nightmare’ year, “struggling to reassert its dominance”, but is showing signs of hope for the future, according to analysts.
Costs and charges of £163.5M increased 2 Sisters Food Group’s debts across the past full financial year, according to results just posted by parent company Boparan Holdings.
Ingredients manufacturer Macphie of Glenbervie took a £182,000 hit to its profits as a result of volatile raw material costs, according to its latest annual results.
Hilton Food Group has hit a speed bump in its drive to boost supply volumes with Tesco after announcing a deal to grow that business, according to analysts.
Greencore’s £30M food-to-go factory at Northampton, announced yesterday (May 20), is expected to deliver hundreds of extra jobs to the region, according to the company’s chief financial officer Alan Williams.
Bakkavor has reported strong sales and profit growth in its first financial quarter (Q1), boosted considerably by new contracts and product development in the UK.
Thorntons aims to pump £10M each year for the next three years into expanding capacity in its biggest capital investment in 25 years, it confirmed in a conference call.
Morrisons’ half-year results delivered another disappointing read, concluded Shore Capital, which nevertheless upgraded its share advice from ‘sell’ to ‘hold’.
