Price war cut food inflation December 6, 2011 CUSTOMERS are benefiting from intense competition between supermarkets, according to data out today from the British Retail Consortium. Food price inflation fell for a second consecutive month to 4.0 per cent in the year to November, compared with 4.2 per cent in October. Overall shop prices rose 2.0 per cent in the twelve-month period, down [...]
Greencore operating profits slide but firm is upbeat after Uniq acquisition December 6, 2011 IRISH food group Greencore expects significant profit growth in 2012 helped by its Uniq acquisition and as cost price inflation eases, after it reported 2011 results in line with analyst expectations. Greencore, one of the biggest sandwich and ready meal suppliers to Britain, said it still planned to play a role in the consolidation of [...]
BEST OF THE BROKERS December 4, 2011 COMPASS GROUP Goldman Sachs rates the food and support services group as a “buy” and increases its target price from 695p to 705p, as well as updating its estimates. The broker expects earnings per share of 43.74p in 2012, rising to 48.99p in 2013, but sees several downside risks to both its view and price [...]
Greene King enjoys strong profits boost December 1, 2011 GREENE King, the pub owner and brewer, yesterday reported higher half-year profits, after benefiting from an upturn in trading as consumers continued to eat out in their local pubs. The 212-year-old firm, which runs 2,410 pubs and restaurants including the Loch Fyne seafood chain, said the consumer environment remained tough, with cost inflation rising ahead [...]
Greene King toasts profits rise December 1, 2011 British pubs and brewery group Greene King reported a higher first-half pre-tax profits, benefiting from an upturn in trading as consumers struggling to cope with economic pressures sought solace in their local pub. The 212-year-old Suffolk based firm, which has 2,410 pubs, said the consumer environment remained challenging with cost inflation rising ahead of wage [...]
Compass sees earnings lift on US success November 23, 2011 COMPASS Group, the world’s biggest caterer, has seen its full-year profits rise after fattening up its US business with new contract wins, which helped offset tough conditions in Europe and Japan. The caterer, which provides meals for everyone from schoolchildren to members of the Chicago White Sox baseball team, posted a five per cent rise [...]
Compass profits up on emerging markets November 23, 2011 Compass Group, the world’s biggest caterer, has posted a rise in full-year profit and given an upbeat view of its prospects after growth in North America and emerging markets helped offset tough economic conditions in Europe and the earthquake in Japan. Compass, which provides meals for office workers, members of the armed forces and schoolchildren [...]
Early xmas deals boost retail sector November 17, 2011 Early pre-Christmas promotions gave a surprise lift to British retail sales in October, driving up volumes at their fastest pace since June, official data showed on Thursday. The Office for National Statistics said sales volumes including automotive fuel rose 0.6 per cent last month after a 0.5 per cent rise in September and confounding forecasts [...]
Supermarket price war dents inflation November 15, 2011 CONSUMER price inflation in the UK dropped slightly in October, figures out yesterday from the Office for National Statistics (ONS) revealed, though it remains well above the Bank of England’s target. Headline CPI inflation fell from 5.2 per cent in the year to September to five per cent last month. A 0.9 per cent fall [...]
FTSE falls as Eurozone fear factor hits banks November 15, 2011 The FTSE edged down this morning, mirroring weaknesses in Asia, as rises in bond yields in Spain and Italy heaped more pressure on markets. Italy sold three billion euros of five-year bonds at 6.29 per cent yesterday – a euro-era record. The country’s 10-year bond yields rose to 6.76 per cent, also pushing Spanish 10-year [...]