Weekly Roundup... 16 November 2021
Tobacco group Imperial Brands on Tuesday said 2022 would be another year of reorganisation after it posted a higher-than-expected rise in full-year profits, aided by increased cigarette prices and smaller losses in its e-cigarettes business. Chief executive Stefan Bomhard has been trying to steady the business after years of sluggish growth and market share losses. He laid out a five-year turnaround plan in January to take Imperial back to its cigarette-selling roots and focus on five markets that generate nearly three quarters of its profit.
Love Irish Food, in partnership with Exterion Media, has announced the launch of its ‘winner takes all’ Love Irish Food Brand Development Award worth an incredible €150,000. The 2022 award will be supported by Checkout Magazine as trade media partner for the award. To celebrate the 2022 award, Owens DDB said that will offer a creative bursary, while Innovate Solutions will offer a product development package. In addition, Bank of Ireland has also come on board to provide a financial wellbeing business health check to the winner. This will bring the total prize-fund of the award to in excess of €150,000 for 2022.
Premier Foods, the maker of Mr. Kipling and Cadbury cakes, plans to spend most of its earnings from the first half of the year on its supply chain, with the UK battling a shortage of food items from cereal to crisps as it emerges from the pandemic. The company, which reported a pre-tax profit of £30.7 million for the six months ending 2 October, expects full-year capital expenditure of about £25 million as it accelerates investment across the supply chain. In the first half of the year, Premier Foods spent £6.3 million.