Co-op profits down by over 50%

26 September, 2016

Profits at the Co-op Group more than halved to £17m in the first six months of the year, hit by the group's three-year plan to rebuild the business.

Discount supermarket Aldi has reported record sales in the UK and Ireland for 2015 and said it will invest £300m in revamping its stores, but profits have been hit by the supermarket price war.

The lunch market is coming under increasing pressure as people spend more on breakfast, according to data from NPD Crest on the ‘out of home’ (OOH) foodservice market.

Kantar Worldpanel has revealed that, despite continued deflation of 1.1%, supermarket sales rose by 0.3% in the 12 weeks ending 11 September.

Retailer Morrisons has seen like-for-like sales (excluding fuel and VAT) rise by 1.4% for the half year to 31 July 2016.

Cake, bread and morning goods manufacturer Finsbury Food Group has enjoyed a near 25% rise in group revenue for the financial year ended 2 July 2016, according to preliminary results from the company.

Group sales at Ocado climbed 15.4% to £314 million in the third quarter, despite the chief executive indicating that price wars were expected to continue in the future.

Food-to-go company Street Eats has moved into a state-of-the-art food processing centre as it pushes to become one of the leading food-to-go producers in the UK.

Manchester wholesale bakery GH Sheldon’s saw a sharp drop in profits in the year to the end of February, according to its recently filed annual accounts.

Real Good Food in upbeat mood

12 September, 2016

Real Good Food executive chairman Pieter Totté has issued a bullish statement on group trading in advance of the company’s annual general meeting today.

There has been a social media backlash after Sainsbury’s removed Taste the Difference options from its £3 meal deal. The range has been renamed On The Go, and still includes a drink, sandwich and snack.

The latest Barclaycard consumer spending data has reached a 13-month high of 4.2%, a counteraction from muted growth of 2.6% in July.

Supermarket giant Marks & Spencer has announced that it will be discussing proposals with its employees to make significant changes to its UK head office structure.

The Food and Drink Federation (FDF) has announced British food and drink exports are up by 6.2% in the first half of 2016 compared to the same period last year, following the fall of the pound since Brexit.

Research from comparison website MySupermarket shows that a basket of popular supermarket items dropped slightly in August, two months after prices rose in June and July.

Canadian and US restaurant chain Tim Horton’s will expand into the UK market after announcing a joint venture with a British investor.

West Cornwall Pasty Company has released its latest financial statement, with sales figures of £13m and underlying like-for-like sales increasing by 7.6% for the year ending 25 March 2016.

Mondelez International, owner of Cadbury, has had its latest £19bn takeover offer for US snack and confectionary manufacturer Hershey rejected and will now end its attempts to acquire the company.

Irish coffee shop chain Insomnia has announced a partnership with Spar petrol forecourt operator Blakemore & Son as it aims to increase its UK store count to 12 by the end of this year.

Tesco has agreed to sell its Euphorium Bakery business for an undisclosed sum.

The Bread Factory and Gail’s artisan bakery annual revenues are up by 41.5%, suggesting that UK consumers’ hunger for artisan bread shows no signs of dying out.

Greater Manchester has seen a 27% rise in specialist bakeries since The Great British Bake Off series first aired in 2010, according to the Office for National Statistics.

Supermarket giant Asda has been hit with the biggest sales decline in its history, as like-for-like sales decreased by 7.5%.

Nearly half (48%) of consumers agree with the sugar tax and a large proportion of them want more products, such as cakes and biscuits, to be added to it, according to market research firm Future Thinking.

Burton’s Biscuit Company has unveiled its plans for expansion following the sale of its Cadbury biscuit licence to Mondelēz International.

Northern Irish family bakery Genesis Crafty has said it is confident its 2016 turnover will exceed that of last year following a rise in sales to almost £16m in the year ending October 2015.

Mondelēz International has agreed to buy the global licence for Cadbury-branded biscuits from Burton’s Biscuit Company.

Entrepreneurs Jamie Crummie and Chris Wilson have designed an app to offload bakery products that are destined for the bin at a discounted price.

International food manufacturer Bakkavör has seen revenues rise 3.2% to £438.7 million in its second-quarter (Q2) results for the 13 weeks ended 25 June 2016, compared with the same 2015 period.

French analysts have revised down their expectations for the country’s milling wheat harvest, but UK traders are eyeing export opportunities to North Africa.

Last year cake sales grew at the fastest rate since 2011, with the market estimated to have grown by 3% to reach £1.22bn, according to research by analyst Mintel.

The latest Barclaycard consumer confidence research has shown caution among consumers, as spending rose 2.6% in July, with growth levels down on those seen in May and June. 

Shetland-based Walls Bakery has been taken over by American entrepreneur Bruce Gilardi and has changed its name to Waas Bakery.

A £15m Yorkshire-based biscuit and confectionery specialist Right Angle Marketing (York) has been sold in a management buy-out (MBO) for an undisclosed seven-figure sum.

Frozen pizza and white bread have fallen in price despite the cost of a basket of popular supermarket items jumping by 1% in July, latest figures from mysupermarket.co.uk show.

Leading bakery food-on-the-go retailer Greggs has seen total sales rise 6% to £422m for the 26 weeks ended 2 July 2016.

Renshaw Food Group has revealed a positive performance for its premium bakery division in its financial results to 31 March 2016, announced today.

Morrisons is slashing prices on its bakery, cakes and desserts by an average of 18% as part of the retailer’s biggest price crunches on 1,045 products.

Real Good Food has reported a statutory profit before tax of £12.9m for the year ending 31 March 2016.

London-based artisan bakery Dum Dum Donutterie has produced the world’s most expensive ‘cronut’ – costing £1,500.

Global ingredients company, Taura Natural Ingredients will celebrate its 20th anniversary with the news that its European sales are on target to increase by 20% this year.

Brexit has had little impact on grocery share figures, according to the latest data from research firm Kantar Worldpanel.

Food to go has continued to drive sales for manufacturer Greencore Group’s convenience division.

Biscuit company Tunnock’s has submitted plans for a multi-million-pound extension to its Lanarkshire factory in Uddingston.

Greencore Group has acquired Warwickshire-based The Sandwich Factory Holdings Limited (The Sandwich Factory) from sausage-maker Cranswick.

Bath-based bakery Thoughtful Bread has asked the local business community to help it expand.

The maker of Oreos, Mondelēz is in discussions to buy the licence to make Cadbury biscuits from UK-based biscuit maker Burton’s Biscuit Company, Sky News has been told.

Bulk ingredients supplier Tate & Lyle PLC said its Q1 profits from 1 April 2016 to 30 June 2016 were up on the same period last year.

Premier Foods, the manufacturer of Mr Kipling and Cadbury cakes, has delivered sales growth of 1.9% for the 13 weeks ended 2 July 2016.

Portadown-based wholesale business Kitchen Bakes is on target to increase cross-border sales by 50% as it celebrates 30 years in business.

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