Mondelez, the global confectionery powerhouse, reported a substantial rise in profits for the third quarter of 2024, illustrating a strategic shift in its core operations.Mondelez International, famously known as the parent company of Cadbury, announced a remarkable increase in operating profits for the quarter ending 30 September 2024. The company’s profits surged by 21% to reach £1.3 billion ($1.7 billion), surpassing market forecasts. Furthermore, net organic sales grew by 5.4% to £7 billion ($9.2 billion). This impressive financial performance was slightly tempered by the company’s strategic decision to sell its developed market gum business, including well-known brands like Trident and…
Author: Dave Antrobus
Charities, community groups, and food banks across the United Kingdom are being urged to register for surplus food donations this Christmas, as a major retailer collaborates with a community giving platform.Aldi is extending its annual initiative to support those in need by distributing surplus food items from its stores. In collaboration with Neighbourly, a platform dedicated to community giving, the initiative aims to pair Aldi stores with local charities during the festive season. This partnership allows participating organisations to collect fresh and chilled products nearing the end of their shelf life.Luke Emery, the national sustainability director at Aldi UK, emphasises…
The Creative Cities Convention 2025 will be hosted in Bradford, aligning with its title as UK City of Culture.This annual event will see industry leaders and thinkers in film and TV convene to discuss pressing issues.Incoming CCC director Lisa Campbell expressed her enthusiasm for Bradford as a diverse and youthful city.Creative Director Shanaz Gulzar anticipates the convention will boost Bradford’s role in creative industries.Mayor Tracy Brabin highlights the convention’s economic significance for West Yorkshire’s creative sector.The Creative Cities Convention (CCC) has chosen Bradford as the host city for its seventh annual event, scheduled to take place on May 7 and…
Sainsbury’s reports a rise in food sales but faces challenges with Argos.The company gains a market share of 15.2% in the UK grocery sector.CEO Simon Roberts attributes success to changed consumer habits and product investments.Argos sees a 5% decline due to weather and consumer caution.Total retail sales rise by 3.1%, despite the setbacks from Argos.Sainsbury’s has seen a commendable rise in its food sales, reaching a 15.2% market share, positioning itself just behind Tesco in the UK grocery sector. This success is largely attributed to shifting consumer habits, with more people opting to dine at home. As eating out becomes…
C&C Group, the owner of prominent cider brands, experienced a notable increase in profits for the first half of 2024, despite a challenging summer season that adversely affected sales.The company’s profits rose significantly, with underlying operating profits up by 29% to £33.5 million for the six months ending August 31. C&C Group projects reaching £66.6 million in profits for the full financial year 2025 and £833.5 million by 2027, demonstrating the company’s strong financial trajectory. However, the sales figures painted a more complex picture, with overall sales dropping to £717.9 million. This decline followed the strategic divestment of non-core soft…
The Bank of England has cut its interest rates to 4.75% in response to easing inflation and economic pressures facing UK businesses and consumers.Despite fiscal challenges, the rate cut followed a trend suggesting a downturn in inflationary pressures.Concerns linger over potential impacts from US trade policies, particularly proposed tariffs by Donald Trump.Market adjustments reflect these economic shifts, as bond yields increase alongside policy changes.Economic forecasts indicate possible further rate cuts, offering a mixed outlook for Britain’s financial future.The Bank of England’s recent decision to lower interest rates to 4.75% comes amidst a backdrop of easing inflationary pressures and slowing wage…
M&S is grappling with significant cost increases due to national insurance and wage adjustments.Chief Executive Stuart Machin emphasises efforts to avoid passing costs onto consumers despite hefty financial pressures.Expected tax and labour cost increments amount to significant figures, with detailed strategies to counteract.Analysts predict substantial impacts on the grocery sector, adding to existing business challenges.Positive financial results for M&S offer some respite, indicating robust growth and customer confidence.Marks & Spencer is currently navigating a challenging financial landscape, primarily prompted by the government’s decision to increase employers’ national insurance contributions by 1.2 percentage points to 15%, effective next April. This policy…
Maya Jama, a well-known British television presenter, has expanded her portfolio by investing in a Swedish plant-based milk company, marking her debut as a co-owner. This strategic partnership sees Jama becoming the brand’s ambassador and advisor.Sproud, the innovative company in question, produces milk from yellow split peas, noted for its superior nutritional benefits compared to traditional dairy and other plant-based options. It boasts high protein content, low sugar levels, and zero allergens, making it a standout choice for health-conscious consumers.In addition to its dietary advantages, Sproud’s production process is recognised for its minimal environmental footprint. Acknowledged by CarbonCloud, the brand…
Chancellor Rachel Reeves is set to present the new Labour government’s inaugural Budget, a pivotal moment that could reshape the fiscal landscape for the grocery sector in the UK.Business leaders within the grocery sector are keenly awaiting the potential overhaul of business rates. Stuart Machin, CEO of a leading retail chain, expressed concern over the government’s ability to deliver on its manifesto promises, especially regarding business rates reforms and apprenticeship levy flexibility. Similarly, Shirine Khoury-Haq, CEO of a major cooperative, highlighted the need for a fairer business rates system, citing a significant increase in rates over recent years. Khoury-Haq emphasised…
Due to economic uncertainty, consumers increasingly turn to used cars as a budget-friendly option.The used car market saw a 4.3% increase in transactions from July to September, totalling 1.96 million sales.Electric vehicles (EVs) in the used market have surged by 57%, yet they make up just 2.7% of total sales.High demand exists for ‘middle-aged’ EVs, selling faster than other used cars.The health of the new car market is vital to sustaining the growth of affordable used EVs.The appeal of used cars is on the rise as new vehicle sales decline. From July to September, transactions in the used car market…