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Finance

Sainsbury’s underlying profits down 14%

Sainsbury's has announced a fall of 14% in underlying yearly profits in its trading update, but saw a turnaround in pre-tax profits, which were up by £620m.

Whitbread acquires Pure stake for £6.8m

Costa Coffee owner Whitbread has announced that it has acquired 49% of London-based food-to-go chain Healthy Retail Ltd, which trades as Pure, for £6.8m.

Asda to change "misleading" promos

Supermarket giant Asda has agreed to make changes to “misleading” promotional practices as part of a wider crackdown by The Competition and Markets Authority (CMA).

Village Bakery wins south Wales Tesco contract

Wrexham-based Village Bakery has struck a deal to supply 27 Tesco stores in south Wales, adding to the 16 it already sells to in north Wales.

Major shareholder accuses Premier Foods of ‘arrogance’

A major shareholder has accused Premier Foods of “arrogance” in its handling of US suitor McCormick.

Costa sales up 15.7%

Costa Coffee owner Whitbread has reported that UK retail sales at Costa were up 15.7% in the year ending 3 March.

Dumfriesshire bakery sells to garage firm

Dumfriesshire-based Gretna Bakery has been sold for an undisclosed sum to garage business Hills of Lakeland.

Waitrose exports biscuits to China

The supermarket has started to sell its Waitrose Duchy Organic biscuits to China, as part of a new deal to export to the country for the first time.

New export guidance from FDF and FDEA

The new guidance for food and drink manufacturers from the Food and Drink Federation (FDF) and the Food and Drink Exporters Association (FDEA) is designed to help exporters compete in the global marketplace. 

Pret sales up thanks to breakfast

High street coffee chain Pret A Manger’s financial results for the 52 weeks to 31 December 2015 showed group sales were up 13.9% year on year (YOY) to £676.2m (+7.5% like-for-like). Ebitda was up 14.5% to £84.3m. 

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