Mixed mining shares weigh on FTSE February 15, 2013 The blue chip index edged down in early deals after a mixed performance from headline mining shares. Anglo American was the biggest riser, adding more than three per cent in early deals, despite it posting a sharp drop in 2012 earnings as it was hit by last month’s $4bn write-down on Brazilian project Minas Rio. [...]
Greencore warns UK market showing little or no growth January 29, 2013 FOOD group Greencore yesterday said a “challenging UK food market” has resulted in flat like-for-like sales in the first quarter of the year. The company, which makes prepared meals and sandwiches for retailers such as Tesco and Asda, said sales at its convenience food division rose 2.5 per cent to £285.8m in the 13 weeks [...]
On-the-move Brits keep De La Rue and Greencore happy November 27, 2012 DAVID Miles must be De La Rue’s favourite member of the Bank of England’s MPC. Last week’s minutes showed Miles was the only member of the committee to vote for more quantitative easing – hardly encouraging for a firm that relies on money printing for a chunk of its income. Unfortunately for De La Rue, [...]
Greencore strikes up sandwich deal with Starbucks’ US stores November 27, 2012 GREENCORE yesterday announced it has struck a $50m (£30m) deal to supply Starbucks’ stores in the US, as the food group revealed a 21 per cent rise in full-year profits. The Dublin-based group said the partnership will see it produce sandwiches for all of the coffee giant’s east coast stores except Manhattan, a major coup [...]
GDP revision to reveal whether UK consumers are still penny pinching November 25, 2012 MARKET watchers will be keenly anticipating the second estimate of the UK’s third quarter GDP growth from the Bank of England tomorrow. While economists cheered the first estimate of one per cent, they are hoping any revision will only be a small one, and not a sign of further dips in consumer spending. Howard Archer, [...]
Best of the Brokers November 22, 2012 BSKYB Nomura has a “buy” rating on the broadcasting company with a target price of 950p, believing BSkyB can exploit continued transitions from free TV to pay TV. GREENCORE Shore Capital reiterates its “buy” rating for Greencore with a 90p target, believing that strong progress this year could prompt a re-rating after full-year results next [...]
Premier splits bread into a separate unit October 3, 2012 PREMIER FOODS said yesterday it had hired Geoff Eaton, the former boss of puddings manufacturer Uniq, as its new chief operating officer while also announcing a further shake-up of its business. Eaton, who left Uniq after it was taken over by Greencore, will replace Tim Kelly, who left the company following a management reshuffle last [...]
Premier skips breakfast after £200m sell-off August 23, 2012 PREMIER FOODS yesterday said it had sold some of the UK’s best-known breakfast table staples including Hartley’s jam and Gale’s Honey to an American food group, in its latest efforts to pay down debts. Hain Celestial, the US organic products company, known for its Earth’s Best and Celestial Seasonings Brands, has agreed to pay around [...]
BEST of the BROKERS August 23, 2012 BRITISH LAND Jefferies has downgraded a whole pack of retail estate investment trusts, stating that they “are no longer excessively cheap”. British Land is moved from “Buy” to “Hold” despite the target price being held at 552p. “Low vacancy rate and broadly rack-rented portfolio combine to constrain organic earnings growth,” it said. ELEKTA UBS has [...]
Greencore earnings on the rise May 22, 2012 Anglo-Irish convenience food company Greencore yesterday reported climbing revenue and profits. The company, which is making special Jubilee themed sandwiches to be stocked in Sainsbury’s and Waitrose, said first-half revenue soared 49.9 per cent to £567.7m. Operating profits were up 36.7 per cent to £31.7m for the six months to the end of March. The [...]