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Sugar doesn't taste so sweet for ABF


By Goran Nastic

Primark owner Associated British Foods (ABF) has cut expectations for its sugar division after a fall in Q3 sales weighed down on results and deeper losses expected for the year ahead.

Sugar remained the key pressure point. Sales fell 4% in the quarter and the sugar division is now expected to report a wider full-year loss of between £25m and £60m on lower average selling prices


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Topps Tiles issues profit warning following heatwave

Topps Tiles has seen its revenue fall below its forecast in Q3, after the recent heatwave caused temporary work stoppages among housebuilders and traders

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Sainsbury’s Q1 growth slows, but maintains profit outlook

Sainsbury’s reported a stronger start to its financial year as grocery sales growth and continued market share gains helped lift Q1 revenue.

Revenue rose 2.7% to £9.2bn in the 16 weeks to 20 June, with retail sales excluding fuel also up 2.7% and like-for-like sales increasing 2.1%, versus 4.7% in last year’s comparative period

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BT and Verizon announce international JV

BT and Verizon, the largest telecommunications firms in the UK and US, have agreed to combine their international enterprise operations in a 50:50 joint venture, creating a $4bn global connectivity business aimed at meeting rising demand for cloud and AI-enabled services.

The news briefly saw BT top the FTSE 100 in today's trading

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Majority of CFOs believe firms are too slow to modernise payments

Over four in five (82%) UK wholesale CFOs have said that their organisation has been too slow to modernise payments, Corpay has found

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Barclays buys Canary Wharf HQ in £750m deal

Barclays has acquired a long-term leasehold interest in its global headquarters at One Churchill Place in Canary Wharf for £750m, securing control of the site beyond the expiry of its current lease in 2039

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Bridgepoint acquires Kayne Anderson Real Estate for $1.39bn

Bridgepoint has announced that it will acquire the US firm, Kayne Anderson Real Estate, for approximately $1.39bn.

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Greggs names Bakkavor veteran as CFO successor

Food retailer Greggs has appointed former Bakkavor executive Ben Waldron as its next CFO, succeeding long-serving finance chief Richard Hutton, who will retire at the end of 2026 after 28 years with the company

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Saga shares jump as it trades in line with expectations

Shares in Saga increased by almost 10% earlier today after the products and services provider for those aged 50+ stated that it has traded in line with expectations in the first four months of its financial year

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BAT to cut 9,000 jobs as part of transformation programme

British American Tobacco (BAT) has announced plans to cut around 9,000 jobs as part of its Fit2Win transformation programme

Macfarlane pension scheme secures £53m buy-in with Royal London

The Macfarlane Group PLC Pension & Life Assurance Scheme (1974) has completed a £53m buy-in with Royal London
AMS accepts £659m acquisition offer from H.B. Fuller

Advanced Medical Solutions Group (AMS) has accepted a £659m takeover offer from the US adhesives manufacturer, H.B. Fuller
easyJet keeps takeover talks alive after rejecting fourth Castlelake bid

easyJet has rejected a fourth takeover proposal from investment firm Castlelake but this time hinted that a deal could still be possible if a higher offer emerges.

The airline continues to spur the advances of Castlelake, but crucially has toned its language to suggest that a deal may be on the table at the right price.
Wise shares jump despite profit drop

Wise has seen its share price increase by over 4%, despite recording an almost 8% year-on-year profit drop in the year to 31 March, totalling $660.4m

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