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Weekly Round-Up… 20 March, 2019

Published on Mar 20 2019 10:20 AM

Weekly Round-Up… 20 March, 2019

Insomnia has partnered with Barry Callebaut to introduce the fourth type of hot chocolate, ‘Ruby,’ next to Dark, Milk and White chocolate, to its portfolio. The deal makes Insomnia one of the first coffee shop chains in Ireland to sell Ruby Hot Chocolate, which is made from Ruby cocoa bean with a unique berry flavour. Insomnia has added no berries or berry flavour or colour when preparing the Ruby Hot Chocolate.

Heineken, the world's second-largest beer-maker, has announced that it has opened its first brewery in Mozambique. It was inaugurated by the President of the Republic of Mozambique, His Excellency Filipe Nyusi on 13 March. The event was attended by around 500 guests including the governor of the Maputo Province, the minister of trade and industry, the minister of agriculture and the Dutch ambassador.

Aryzta shares surged to close 10.7% higher in Dublin after results which were seen as evidence of stabilisation in the baked goods giant after a capital raise last year. The Cuisine de France owner reported organic revenue growth of 0.7% in the six months to January 31 in results marking the first improvement in margins in North America since 2014.

Smurfit Kappa has announced its intentions to launch a tender offer to acquire the minority shares in Cartón de Colombia S.A. ("Cartón") for cash. Smurfit Kappa currently holds 69.94% of the shares in Cartón. The consideration payable under the Transaction, if all the minority shares are tendered, will amount to approximately €90 million and will be funded from the Group's existing cash resources.

The Coca-Cola Company announced it will release first quarter 2019 financial results on 23 April before the New York Stock Exchange opens. The release will be followed by an investor conference call at 8:30 a.m. ET to discuss the results. The company invites investors to join a webcast for this event on its website at www.coca-colacompany.com/investors. Downloadable files of the earnings call audio recording, as well as a transcript, will be available within 24 hours after the call on the company’s website.

The Kraft Heinz Company received a standard notice from Nasdaq stating that, as a result of not having timely filed its annual report on Form 10-K for the year ended 29 December, 2018. Kraft Heinz is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports with the Securities and Exchange Commission. This notice has no immediate effect on the listing or trading of Kraft Heinz’s common stock on the Nasdaq Global Select Market. Kraft Heinz has 60 calendar days from the date of the notice to submit a plan to regain compliance.

British pubs group JD Wetherspoon Plc posted an 18.9% fall in first-half pretax profit on Friday, hit by high labor costs. The company, like most restaurant chains in the country, has been battling high staff costs, property prices and power bills as well as a move away from pub drinking by younger Britons. The FTSE 250 group, which relies heavily on alcohol sales at its restaurants, said on Friday labour costs increased by about £33 million, accounting for the biggest chunk of overall costs.

© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition. 

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