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Primark and groceries fuel profits at Britain’s AB Foods

Global Banking & Finance

By James Davey LONDON (Reuters) – Associated British Foods said it was well set-up for medium term growth, as it reported a 32% rise in full-year profit, driven by robust performances from its Primark clothing business and grocery division.

Food 40
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AB Foods raises profit outlook as Primark gets summer boost

Global Banking & Finance

AB Foods raises profit outlook as Primark gets summer boost By James Davey LONDON (Reuters) -Associated British Foods raised its full year profit outlook on Monday with its Primark fashion business boosted by warm weather kicking in across its European markets and its food unit trading well.

Food 52
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Food giants are strangling Britain’s farmers and consumers. What’s the solution? Break them up | Nicholas Shaxson

The Guardian: Mergers & Acquisitions

The problem is our monopolised food system. Think of it as a vast profit machine shaped like an hourglass, with many food producers at the top, millions of consumers at the bottom, and a few dominant firms – such as giant supermarkets or global food traders – clustered at its narrowing neck, siphoning a cut from the passing traffic.

Food 111
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Food Distribution is Ripe for M&A

Focus Investment Banking

In this article, which joins our ongoing coverage of the Food & Beverage industry, we introduce an overview of M&A activity in food distribution with a focus on fresh food. The pandemic accelerated innovation at all levels as it spotlighted weaknesses and systemic inefficiencies, particularly in food distribution.

Food 52
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Catering firm Compass lifts profit forecast after strong first half

Global Banking & Finance

Catering firm Compass lifts profit forecast after strong first half (Reuters) – British catering firm Compass Group raised its 2024 profit forecast on Wednesday, after reporting first-half earnings slightly ahead of market expectations, as new businesses and higher pricing offset inflationary headwinds.

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Fonterra’s annual profit falls 25%; shares rise on dividend declaration

Global Banking & Finance

By Rajasik Mukherjee (Reuters) -New Zealand’s Fonterra posted a 25% drop in its fiscal 2024 profit on Wednesday, hurt by poor earnings from its ingredients segment and volatility in demand from key importing regions, but declared a special dividend, sending its shares higher.

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M&A as a Strategy for Handling Rising Input Costs in Food Distribution

Sun Acquisitions

The commercial food distribution industry is at a pivotal crossroads. With input costs surging, companies are scrambling for viable strategies to maintain profitability without passing on additional expenses to the already strained consumer. In this high-stakes environment, M&A emerges as a pivotal tool.

Food 52