Profit

Greencore has published its full year financial results

Greencore posts £2.3bn sales growth in full-year results

By Gwen Ridler

Convenience food manufacturer Greencore has revealed sales growth of 56.5% over the past year to £2.3bn in its full-year results, boosted by a rise in US sales following the acquisition of US firm Peacock Foods at the end of last year.

Marks & Spencer took a hit to its like-for-like food sales and profits last year

Marks & Spencer’s profits dip as food sales fall

By Gwen Ridler

Marks & Spencer’s (M&S’s) £312.4M fall in profits in the year ending April 1 2017 exceeded market expectations, according to market analysts, as like-for-like food sales for the retailer fell.

ABF posts sales and profit growth in its interim results

ABF sees £171M half-year profits boost

By Gwen Ridler

Associated British Foods (ABF) saw a £171M boost to its operating profits in its interim results posted today, boosted by its ingredients and grocery businesses.

Frozen food manufacturer McCain Foods has reported an 8.6% hike in profits

McCain Foods in profits and sales boost

By Noli Dinkovski

Oven chip maker McCain Foods GB has reported an 8.6% hike in profits just weeks after revealing plans to invest more than £100M in its Scarborough factory.

Nestlé's 2016 results were ‘at the lower end of our expectations’ said ceo Mark Schneider

Nestlé’s growth falls for fifth consecutive year

By Gwen Ridler

Nestlé has posted its fifth consecutive year of falling organic growth – after a “challenging year” in the UK – in its latest financial results for the 12 months to December 31.

Unilever Foods reported sales and profit rises of 3.7% and 1.6% respectively, across the last three months of 2016

Unilever’s food sales and profits rise

By Matt Atherton

Unilever Foods reported a 2.6% rise in underlying profit in its full-year trading update, despite the manufacturer’s operating margin falling 0.3%.

Boparan Holdings - owner of 2 Sisters - reported a sales boost of 5.1% in its first-quarter trading update

Boparan plans for ‘toughest’ year after sales boost

By Matt Atherton

Boparan Holdings – owner of 2 Sisters Food Group – is preparing for “one of our toughest” years, warned ceo Ranjit Singh, after the food giant’s parent company reported an 11.9% rise in operating profit to £19.8M in the 13 weeks to October 29.

2 Sisters reported 40% increase in profits

2 Sisters owner reports £25M profits jump

By Matt Atherton

2 Sisters’ parent company Boparan Holdings reported a 40% increase in like-for-like operating profit to £25.3M in its fourth-quarter trading update, despite the uncertain market following the Brexit vote.

A boom in Artisan food sales has grown profit margins of small manufacturers

Artisan food boom grows SMEs profits

By Gwen Ridler

An artisan food “boom” has helped grow profit margins of small and medium-sized enterprises (SMEs) to 6.8% of turnover over the past year, according to research by law firm EMW.

Ivan Menezes announced a 'strong start' for Diageo this year

Diageo reports strong start for the year

By Gwen Ridler

A strong start for the year at alcoholic drinks giant Diageo was fuelled by improved marketing, innovation and commercial execution, claimed ceo Ivan Menezes.

Tesco has returned to profit, pledging to continue working closely with its suppliers

Tesco returns to profit, after working closely with suppliers

By Michelle Perrett

Tesco is back in the black as pre-tax profits hit £162M, in its full-year results, up from the £6.3M deficit on the previous year, as the nation’s biggest retailer pledged to continue to work “more closely” with suppliers

Devro's cost-cutting could help improve the business further

Cost-cutting could save Devro’s skin

By Lynda Searby

Devro’s restructuring exercise looks to be working in returning the Scottish collagen product maker to profitability, as the group posted profits before tax of £9.6M for the first half (H1) of 2015.

Ocado faced a hard drive to reach long-term profitability, said Shore Capital

Ocado’s ‘profitability problem' remains: city analyst

By Michael Stones

Ocado faces a key profitability problem, despite speculation that the online supermarket and distribution business is poised to agree an international deal, according to leading City analysts Shore Capital.

Tesco 'does not have the basis for continuing to withhold the payments'

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

By Rod Addy

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.

Tesco has issued another profit warning

Tesco issues yet another profit warning

By Michael Stones

Troubled supermarket giant Tesco has posted another profit warning, declaring that its full-year results will be significantly below expectations. 

Fraud is costing the food industry £11.2bn a year

Food fraud costs UK firms £11bn a year

By Laurence Gibbons

Food fraud is costing UK food and drink manufacturers a whopping £11.2bn a year, equivalent to 85% of their total profits, a report from the University of Portsmouth has claimed.

City analysts have predicted troubled times for Tesco

Tesco FCA investigation is ‘another black mark’

By Nicholas Robinson

The Financial Conduct Authority’s (FCA’s) investigation into Tesco’s overstated half-year profit guidance is another “black mark” for the retailer, city analysts have said.

2 Sisters is looking to diversify the customer base for its European poultry business

Protein star performer for 2 Sisters

By Rod Addy

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.

Nestlé boss Paul Bulcke predicted a challenging year ahead

Nestlé boss expects another tough year

By Michael Stones

Nestlé ceo Paul Bulcke has predicted a tough year ahead, as the manufacturing giant revealed total sales of CHF92.2bn for 2013, up by 2.7% on the previous year.

Danone's brands include Activia

Tough Europe forces Danone savings drive

By Rod Addy

Dairy and beverages giant Danone is targeting €200M (£172.7M) in savings in Europe by 2015 by “adapting its structures and costs” as the tough economic climate continues to bite.

Sizzling demand but higher costs and currency factors are impacting Devro's financial performance

Devro reports rising demand, costs and adverse currency factors

By Mike Stones

Sausage skin manufacturer Devro reported strong demand for its collagen sausage castings, which were offset by rising costs and adverse currency factors, according to its latest interim management statement covering the period from July 1 to October 22.

ABF has benefitted from soaring sugar prices

ABF results sweetened by sugar prices

By Dan Colombini

Soaring sugar prices have boosted results at Associated British Foods, according to city analysts, after the firm announced its half year results for the period ending March 3.

Thorntons confirmed that it was looking at ways to close a further 60 stores in the next three years

Thorntons backs commercial plan despite falling sales

By Dan Colombini

Chocolate manufacturer Thorntons has defended its decision to rebalance its business in a bid to restore profitability following a slump in profits during the all-important Christmas period.

Dairy Crest aided by higher cheese prices

Cheese and property boost profits at Dairy Crest

By Dan Colombini

Higher cheese prices and profits from property sales helped Dairy Crest to a strong financial performance for the period ending September 30, according to city analysts.

Future of Minsterley in doubt (picture courtesy of Shropshire Star)

Uniq bows out with £1.1M desserts deficit

By Graham Holter

Uniq’s troubled desserts division lost a further £1.1M in the past six months, prompting more doubts about the future of its Minsterley production site.

Results find Devro in ‘sizzling form’, says City

Results find Devro in ‘sizzling form’, says City

By Ben Bouckley

Strong growth in global meat consumption and the opportunity to convert manufacturers from natural to collagen casings are two factors underpinning Devro’s strong interim results, said City analysts.

Barden: Game-changing technology

Northern may put Fenland Foods factory up for sale

By Elaine Watson

Northern Foods is now contemplating selling its Fenland Foods factory in Grantham after using it as a testing ground for new technologies to be installed at its other sites.

Put brakes on transport costs

Put brakes on transport costs

The food industry bemoans being forced by powerful buyers to operate on low profit margins for most lines. Not only are margins low and under...

Good planning meets demand

Good planning meets demand

I recently saw a very successful example of sales and operations planning (S&OP), whereby manufacturing, distribution and sales have been welded...

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