Stock Market

Finsbury posts sales growth in its half-year trading update

Finsbury posts growth as international sales fall

By Gwen Ridler

Speciality cake and bread manufacturer Finsbury Food Group has posted a small rise in sales in its pre-close trading statement, despite a fall in sales from its overseas operations.

Bakkavor founders, Lydur (left) and Agust (right) Gudmundsson

Bakkavor’s flotation on London stock market is back on

By Rick Pendrous

Bakkavor’s plans to float on the London Stock Exchange (LSE) are back on exactly a week after the own-label chilled foods business announced it had decided against a flotation due to adverse market conditions.

Bakkavor founders, Lydur (left) and Agust (right) Gudmundsson

Bakkavor ditches plans for stock market flotation

By Rick Pendrous

Bakkavor, the own-label chilled foods group, has ditched its plans for a £1bn-plus stock market flotation, in an announcement released today (November 3) because of “current volatility” in the market.

Bakkavor founders, Lydur (left) and Agust (right) Gudmundsson

Bakkavor would be an ‘excellent addition’ to stock market

By Matt Atherton

Chilled foods manufacturer Bakkavor would be an “excellent addition” to the stock market, says an industry expert, after reports it was preparing for a stock market flotation that could value it at about £1.5bn.

Premier Foods attempts to reassure the market following press reports

Premier Foods attempts to reassure market

By Rick Pendrous

Premier Foods has attempted to steady market jitters following press reports yesterday [June 29] suggesting it might be about to make a major change in direction following a ‘strategic review’ of its activities as its share price ‘languishes’.

Unilever boss Paul Polman urged the government to review takeover rules

Unilever boss calls for takeover review

By Rick Pendrous

Unilever chief executive Paul Polman’s call for the next UK government to review the UK’s ‘overly liberal takeover rules’ in the wake of the failed £115bn bid for his company from Kraft Heinz, has found some support among food and drink finance experts.

Tesco Stores Ltd has been fined £129M for overstating its profits in 2014

Tesco fined £129M for market abuse

By Gwen Ridler

Supermarket giant Tesco’s subsidiary, Tesco Stores Ltd, has agreed to pay a £129M fine in order to avoid prosecution for market abuse, after overstating its profits in 2014.

Mondelēz International has abandoned its pursuit of Hershey

Mondelēz abandons pursuit of Hershey

By Matt Atherton

Mondelēz International has abandoned its pursuit of US confectionery giant Hershey, the company announced yesterday (August 29), after its $23bn (£18bn) offer was rejected.

Premier's new partnership with Nissin will boost sales, said the firm

Premier Foods formalises deal with Nissin

By Rick Pendrous

Premier Foods and Nissin Foods Holdings Company have entered into a relationship agreement on terms and conditions, following the announcement by US spices firm McCormick that it was withdrawing its takeover bid for Premier last month.

Potts: now owns 1,002,881 shares following the latest purchase

Morrisons boss puts money where his mouth is

By Noli Dinkovski

Morrisons ceo David Potts has demonstrated his confidence in turning around the fortunes of the retailer by investing a further £360,000 in shares.

The bidding battle for Premier Foods is hotting up

Bidding battle hots up for Premier Foods

By Michael Stones

The takeover bidding battle for Premier Foods is hotting up, with US spice and herb firm McCormick raising its bid from an initial 52p a share to 65p, valuing the Mr Kipling manufacturer at about £1.5bn.

Nestlé is still feeling the impact of the Maggi noodles incident

Nestlé results show Maggi incident still hurts

By Laurence Gibbons

Nestlé’s still suffering from its Indian Maggi noodle recall and has lost touch with the Chinese consumer, hitting growth for the global food and drink manufacturer, according to market analysts.

Cranswick's trading statement impressed City analysts

Cranswick sales boost lifts share price

By Michael Stones

Meat supplier Cranswick’s shares climbed 6%, after the Hull-based firm posted 10% revenue growth to £481.5M, in the six months to September 30.

BrewDog is to create 130 new jobs at its Ellon facility in north east Scotland

BrewDog creates 130 new jobs with £1.5M grant

By Michael Stones

A surge in demand for craft beer has led the Aberdeenshire-based BrewDog to create 130 new jobs at Ellon in north east Scotland, after receiving a grant of £1.5M from the Scottish government.

Thorntons blamed the profit warnings on lower sales to supermarkets

Thorntons issues Christmas profits warning

By Michael Stones

Thorntons has issued a Christmas profits warning, telling investors profits will be lower than expected due to a slump in supermarket orders.

Premier Foods’s shares have delivered 'a truly awful' performance this year, said Shore Capital

Premier Foods delivers ‘awful’ stock performance

By Michael Stones

Premier Foods has delivered “a truly awful 2014 stock performance”, despite making solid restructuring progress, said City analyst Shore Capital, ahead of the firm’s third-quarter trading results, due for release later this week.

Warren Buffett: 'I made a mistake on Tesco'

Top finance guru dumps Tesco shares

By Michael Stones

The world’s richest investor, Warren Buffett of Berkshire Hathaway, has sold more than 245M shares in supermarket giant Tesco, after describing his investment as “a huge mistake” earlier this month.

Some of Tesco's behaviour was acceptable, within limits, says Spence

Tesco’s overstatement of profits was ‘acceptable’

By Laurence Gibbons

Tesco’s overstatement of its half-year profits by £250M was an “acceptable” way to deal with the pressure of losing market share to other retailers, according to an accounting expert.

United Biscuits quiet on stock-float rumours

United Biscuits quiet on stock market float rumours

By Nicholas Robinson

United Biscuits’ joint-owners PAI Partners and Blackstone have neither denied nor confirmed rumours they are preparing to float the biscuit heavyweight on the stock market, despite analysts welcoming the idea.

McIlwee: 'proud of what we have achieved'

It’s official: finance chief to leave Tesco

By Rod Addy

Tesco has confirmed rumours that finance chief Laurie McIlwee will leave the business, announcing the news days before it is set to announce 2013–2014 results.

Morrisons confirmed an arrest had been made but released no further details

Morrisons quiet on ‘insider trading arrest’

By Michael Stones

Morrisons is refusing to confirm or deny reports that its group treasurer Paul Coyle has been arrested on suspicion of insider dealing, in advance of the supermarket’s partnership with online grocer Ocado.

Tate & Lyle's long-term story remained 'compelling', said Investec analyst Martin Deboo. Corn is one of the manufacturer's main ingredients

Tate & Lyle ‘compelling’ despite price: City

By Mike Stones

Tate & Lyle’s prospects remain encouraging despite the poor share price, news revealed today (October 4) in its trading update for the six months to September 30, says City analyst Investec.

Cranswick's first-quarter results have wowed City analysts

Cranswick is ‘best in class’ operator: City analyst

By Mike Stones

Diversified food business Cranswick is “a best in class operator” with “a highly talented and effective management team”, said City analyst Shore Capital commenting on its first-quarter trading results.

Britvic is apparently having second thoughts about its plans to merge with AG Barr

Britvic may renegotiate or quit AG Barr merger deal

By Mike Stones

Soft drinks firm Britvic has signalled its willingness to renegotiate the terms of its merger with business rival AG Barr or abandon the deal, after the Competition Commission issued a final approval yesterday (July 9).

Foodservice firm Compass benefited from strong performances in North America and emerging markets

Compass foodservice firm posts revenue 8% up

By Mike Stones

Global foodservice firm Compass Group has posted revenue 8% up at £16.9bn for the full year to September 30, reflecting strong growth in North America and emerging markets.

Irn-Bru helped get AG Barr through the poor weather

AG Barr grows sales despite weather woes

By Anne Bruce

Analysts remained sympathetic to Irn-Bru maker AG Barr after it reported that profits had been buffeted by factors including this year’s “unprecedented weather”.

Greencore's share price has soared since its listing on the London Stock Exchange

Greencore share price soars after FTSE listing

By Dan Colombini

The soaring share price of chilled foods manufacturer Greencore is proof that its recent decision to switch to the London Stock Exchange was beginning to bear fruit, according to city analysts.

Greencore's decision to switch its currency denomination from euros to sterling could spark interest from UK investors

Greencore value boosted by currency switch

By Dan Colombini

The decision by chilled foods group Greencore to transfer its share currency denomination from euros to sterling has further increased its value to potential investors, according to city analysts.

Müller is looking to build on its leadership of the UK chilled dessert sector

Müller seeks UK expansion with Robert Wiseman bid

By Dan Colombini

German yogurt manufacturer Müller is seeking to strengthen its position in the UK dairy market, according to city analysts, following the acceptance of a £279.5M bid for dairy giant Robert Wiseman.

Greencore ceo, Patrick Coveney, will be leading the firm's push for a place on the FTSE UK index

Greencore courts overseas investment with UK listing

By Dan Colombini

Chilled foods group Greencore has moved to raise its profile among UK and international investors after announcing that it is cancelling its ordinary shares on the Irish Stock Exchange.

Greencore ceo Patrick Coveney looks set to seal a Uniq deal

Greencore 'one step closer' to Uniq takeover

By Ben Bouckley and Graham Holter

Greencore’s £113m offer for Uniq has been declared ‘unconditional as to acceptances’ after over 90% of shareholders indicated acceptance of the deal.

Chicken king: Before wooing Northern shareholders, Ranjit Boparan made his money in poultry

Chicken magnate serves up Northern delist

By Ben Bouckley

Midlands businessman Ranjit Boparan today served notice of his intention to delist Northern Foods from the stock exchange as he declared his £342m bid wholly unconditional and edges towards taking the company private.

Geoff Eaton:

Uniq ceo 'unconstrained' as pension fund seizes sale opportunity

By Ben Bouckley

Uniq’s pension fund has appointed financial advisor Spayne Lindsay to sell its 90.2% holding in the chilled foods firm, which it only acquired from on March 24, while ceo Geoff Eaton told FoodManufacture.co.uk he feels "unconstrained" after...

Ranjit Boparan

Boparan signals 'V' for Victory

Ranjit Boparan today clinched victory in the fight to take over Northern Foods, as he declared his offer ‘unconditional as to acceptances’ and announced that he now controls 79.52% of the food group’s shares.

Uniq ceo Geoff Eaton

A Uniq pension deal

Uniq today received court sanction for its novel 'pension deficit for equity swap', which will see the firm's shares delisted from the main market and relisted on the AIM on April 1.

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