Food ingredients manufacturer Tate & Lyle expects to exceed its targets for the full financial year, according to its latest financial update for the three months to December 31.
More than 90 jobs at biscuit manufacturer Rivington Biscuits are to be axed, after the falling value of the pound plunged the company into administration.
Walkers crisps and fish fingers maker Birds Eye were the latest to blame the weak pound on price increases, after they raised their prices by up to 10 % and 12% respectively.
R&R Ice Cream has posted a 1.3% drop in sales for the first quarter of 2016 as its acquisition of Nestlé’s South Africa business, fluctuating exchange rates, and tough European trading conditions hit like-for-like performance.
Nutritional food manufacturer Glanbia has recorded double-digit growth for the sixth consecutive year, with earnings before interest, depreciation, tax and amortisation (EBITDA) up 10.5% to €271M (£214M) for the 52 weeks to January 2 2016.
Associated British Foods (ABF) has revealed its adjusted operating profit will fall for the 52 weeks to September 12, by at least £30M, due to a significant weakening of the euro.
Global political and environmental unrest is forcing growing numbers of food and drink importers and exporters to use currency forward contracts or ‘options’ to hedge against volatile exchange rates, according to a top foreign exchange broker.
