Weekly Round Up, July 25
Published on Jul 25 2017 10:04 AM
Nestlé Ireland staff in Dublin took part in a static cycle to raise funds Down Syndrome Ireland (DSI) last week. The event was part of a partnership that involves over 700 employees from Nestlé Ireland, Citywest, as well as employees from the Wyeth Nutrition infant formula plant in Askeaton, Co. Limerick, who have committed to raise €70,000 over two years. DSI supports over 3,500 members across Ireland through its specialist services.
Independent News And Media (INM) has issued a profit warning, saying in a statement that it expects a ‘material reduction’ in its net income this year, because of significant recent challenges it has faced. It explained, “These include a decline in circulation and readership, a decline in advertising revenues, ongoing uncertainty arising from Brexit, lower-than-expected growth in digital revenues, and increased costs arising from legacy libel awards.
CBRE’s latest report shows the Dublin’s prime retail rates are rising faster than those in most other major cities. The report found that rates in Dublin rose by 10.5% in the year to the end of March 2017. This means that rents for luxury Dublin retail sites rose at the fifth-fastest rate of any big city.
Bord Bia brought its Thinking House to GLAS last week to explain to visitors to the horticulture event how its consumer research and market insight centre can assist in maximising profitability for the sector. Held in Citywest, GLAS attracted over 1,000 industry representatives and 145 exhibitors (including 27 nurseries and 44 new exhibitors participating for the first time).
Premier Foods, owner of Angel Delight and Bird’s Custard amongst many other brands, has reported that its Q1 sales for 2017 were down 3.1%. This was in line with the group’s expectations for the quarter. It also reported a rise in international sales of 20%.
Vimto maker Nichols has announced that its products will avoid the UK’s sugar levy when it is introduced next year, after ramping up its focus on its sugar free and zero ranges.
Telegraph.co.uk reports that, while the levy announced last year by former British Chancellor George Osborne is set to come into play next year Nichols – which also makes Sunkist – has said none of its products will trigger the levy.
Arrabawn Co-op and Dairygold have announced that they will increase their milk prices for June supplies, reports Agriland.ie. Arrabawn confirmed a 1c per litre increase for milk produced in June; while Dairygold announced it would be doing the same.
GSK has announced plans to sell the Horlicks brand in the UK. According to FoodNavigator.com, it is also proposing to close its manufacturing site in Slough, Berkshire, and sell its Maxi Nutrition brand in the UK too.
Rye River Brewing, making of McGargles, has scaled back its growth plans. Journal.ie reports that its parent firm has seen significant losses over the past two years, reporting a loss of €3.5 million in 2016. The company is said to have undergone significant rationalisation, and that it has ‘pulled the plug’ on its expansion into the US.
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