Morrisons puts 400 jobs at risk after failing to turn around loss-making bakery November 20, 2024 Supermarket giant Morrisons has confirmed plans to close a loss-making bakery in a move which has put almost 400 jobs at risk. The Bradford-headquartered grocer is looking to shut down Rathbones after failing to return the business to profit. The bakery was acquired by Morrisons out of administration in 2005 but has been loss making [...]
John West makes first loss since 2010 after reversing failed pricing decision October 9, 2024 Canned tuna brand John West has fallen into the red for the first time since 2010 after reversing a failed decision to pass on price rises to its customers. The Liverpool-headquartered business has reported a pre-tax loss of £6.7m for 2023, having reported a profit of £2m in 2022. The last time John West posted [...]
Mcvitie’s white chocolate digestives help boost biscuit giant’s profit by £130m October 8, 2024 The introduction of white chocolate digestives helped boost the owner of biscuit giant Mcvitie’s by almost £130m during its latest financial year. Pladis Foods has reported a pre-tax profit of £131.3m for 2023, up from the £2.8m it posted for 2022. Newly-filed accounts with Companies House also show its revenue increased from £2.54bn to £2.75bn [...]
Meal deal maker Greencore hikes profit outlook October 8, 2024 Food manufacturer Greencore—which produces sandwiches for supermarket meal deals—has said it anticipates full year profit to be “ahead of current market expectations.” In a trading update issued today, the convenience food firm, which supplies all the UK’s major supermarkets with salads, sushi, sandwiches, snacks, ready meals, and soups, said like for like revenue growth for [...]
Swizzels Matlow: Sales near £100m at Love Hearts maker October 7, 2024 Profit at Swizzels Matlow, the maker of sweets such as Love Hearts and Refreshers, was slashed in half during its latest financial year despite its sales jumping to almost £100m. The Peak District-headquartered business has reported a pre-tax profit of £4.4m for 2023, down from the £8.2m it achieved in 2022. Newly-filed accounts with Companies [...]
Mars bar maker pays huge £600m dividend after UK success October 7, 2024 The UK arm of Mars Wrigley, which makes the likes of Mars bars and Skittles, has paid out a huge dividend of £600m after a bumper financial year. The business, which has UK manufacturing sites in Slough and Plymouth, has significantly upped its dividend for 2023, after also paying out £115m in 2022. The dividend [...]
KP Snacks: Hula Hoops maker defies cyber attack and strikes as profit nears £100m October 3, 2024 Profit surged to almost £100m at KP Snacks, the maker of the likes of Mccoy’s, Hula Hoops and Terrell’s during its latest financial year. The Slough-headquartered business, whose brands also include KP Nuts, Butterkist, Pom-Bear and Popchips, has reported a pre-tax profit of £93.7m for 2023, up from the £64.3m it achieved in 2022. Newly-filed [...]
Quorn: Meat-free food brand loses more than £60m as supermarket sales slashed September 19, 2024 The company behind meat-free food brand Quorn lost more than £60m during its latest financial year as its sales in UK and US supermarkets continued to decline. The North Yorkshire-headquartered Marlow Foods has posted a pre-tax loss of £63.4m for 2023, having also made a loss of £15.4m in 2022. The last time the Quorn [...]
Volvere: Shire Foods owner sees profit rise again as costs stabilise September 13, 2024 Turn-around investment firm and frozen pie maker Volvere has seen its profit more than double after its food manufacturing division saw the cost of raw materials stabilise, it said today. The London-listed company, which owns frozen pie producer Shire Foods, saw its revenue increase to £22.2m in the six months ending June 30, 2024 – a record [...]