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[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 6 sources · 27 days · First seen · Last updated

UK retail and food manufacturing profit trends

Overview

Major UK-based companies in the retail and food manufacturing sectors have reported strong financial performance, leading to upward revisions in profit guidance.

Next, a retailer, raised its full-year profit guidance to £1,255 million following a 9.0% rise in group sales and a 10.5% increase in profit before tax. While analysts provided mixed ratings, the company noted that potential upcoming tax rises could impact future growth.

Greencore Group, a convenience food manufacturer, also raised its full-year adjusted operating profit guidance for the second time, projecting approximately £248 million. This follows a strong fourth quarter where pro forma revenue rose 4.5%. The company attributed its growth to manufactured volumes and synergies from its acquisition of Bakkavor.

Entities

Berenberg Bank · Royal Bank of Canada · Citigroup · Lord Simon Wolfson · Next

Timeline

  1. [BUSINESS] 2 sources
    Greencore Group raises profit guidance following strong quarterly performance

    Greencore Group has raised its UK profit guidance to approximately £248 million following strong volume growth and improved margins, prompting several analyst price target upgrades.

  2. [BUSINESS] 6 sources
    Next raises full-year profit guidance to £1,255m

    Next has raised its full-year profit guidance to £1,255 million following strong sales and cost savings, though the retailer warned that potential tax rises could stifle future growth.

Sources

cityam.com · proactiveinvestors.co.uk · standard.co.uk · stocknews.com · theindustry.fashion · ukinvestormagazine.co.uk