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Sector movers: Food stocks binned after Tate & Lyle profit warning

Fri, 06th Feb 2015 14:49

Tate & Lyle was dampening the food sector in London on Friday after the sweeteners maker disappointed investors with its second profit warning in just four months.Tate & Lyle said it now expects adjusted pre-tax profits for the year ending 31 March to be below previous guidance of £230m-245m.The profit warning, which is the Splenda sucralose manufacturer's third in a year, was blamed on a weaker-than-expected performance in its bulk ingredients division as capacity constraints in the US transportation network led to lower sweetener volumes.Meanwhile, weakened EU sugar prices affected bulk sweetener prices in Europe, and the company experienced a sharp deterioration in ethanol margins near the end of the period.The stock was down 14% at 571.3p by 15:32 on Friday afternoon, nearing its 52-week low of 551.5p reached in December.Mike van Dulken, the head of research at Accendo Markets, said: "Management obviously needs to do something to stir things up and improve current business trends if it wants to sweeten up investors and deliver a genuine share price reversal."Other food producers were also out of favour in London, including Provexis, Devro, Real Good Food, Dairy Crest and Premier Foods.News that Tesco was under investigation could also be hitting sentiment in the food sector on the back of concerns that the supermarket giant has mistreated suppliers. The Groceries Code Adjudicator is looking into whether the company has breached the Groceries Supply Code of Practice."The investigation will consider the existence and extent of practices which have resulted in delay in payments to suppliers," a statement said.Top performing sectors so far todayIndustrial Metals & Mining 1,808.22 +3.55%Banks 4,452.23 +1.46%Life Insurance 8,180.22 +0.66%Industrial Transportation 2,861.07 +0.61%Insurance (non-life) 2,058.02 +0.60%Bottom performing sectors so far todayFood Producers & Processors 7,921.60 -2.15%Mining 14,196.54 -1.85%Tobacco 42,419.59 -1.30%Food & Drug Retailers 3,188.25 -0.91%Automobiles & Parts 8,865.95 -0.89%
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21 Nov 2022 12:08

LONDON MARKET MIDDAY: London recoups losses but Europe struggles

(Alliance News) - European equities made a tepid start to the week, with a resurgence of Covid-19 in China hitting investor sentiment on Monday, while shares in Disney were up in pre-market trade in New York after a popular former CEO made a shock return to the entertainment company.

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21 Nov 2022 11:56

Real Good Food shares surge after securing GBP2.5 million funding

(Alliance News) - Real Good Food PLC shares jumped 62% on Monday after it said it has secured GBP2.5 million in funding to supports its turnaround.

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21 Nov 2022 11:15

AIM WINNERS & LOSERS: Real Good Food secures turnaround funds

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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20 Oct 2022 15:58

UK shareholder meetings calendar - next 7 days

Friday 21 October 
Diurnal Group PLCGM re Neurocrine takeover
Trafalgar Property Group PLCAGM
Monday 24 October 
Echo Energy PLCGM new ordinary shares conversion
Fintech Asia LtdAGM
Rural Broadband Solutions PLCEGM investment from Tiger Infrastructure Partners Fund and name change
Seraphim Space Investment Trust PLCAGM
Vast Resources PLCGM allotment of equity securities
Tuesday 25 October 
Hammerson PLCGM re proposed capital reduction
International Consolidated Airlines Group SAEGM 
Next Fifteen Communications Group PLCGM cash and share acquisition
Rio Tinto PLCGM re China Baowu Steel Group deal
Tritax EuroBox PLCGM Investment Management Agreement
Vertu Capital LtdGM readmission of ordinary shares
Wednesday 26 October 
JPMorgan Global Growth & Income PLCAGM
KCR Residential REIT PLCAGM
International Consolidated Airlines Group SAEGM aircraft purchase
Mid Wynd International Investment Trust PLCAGM
Mirada PLCAGM
Omega Diagnostics Group PLCAGM
Woolworths Group LtdAGM
Thursday 27 October 
Alumasc Group PLCAGM
Brooks Macdonald Group PLCAGM
City Of London Investment Trust PLCAGM
Filtronic PLCAGM
Hargreaves Services PLCAGM
National Milk Records PLCAGM
Ovoca Bio PLCAGM
PCI-PAL PLCAGM
Provexis PLCAGM
Real Good Food PLCAGM
South32 LtdAGM
TheWorks.co.uk PLCAGM
TruSpine Technologies PLCAGM
Tufton Oceanic Assets LtdAGM
Wesfarmers LtdAGM
  
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3 Oct 2022 11:33

Real Good Food loss widens on impairment; tough year ahead

(Alliance News) - Real Good Food PLC on Monday reported a widened loss for the most recent financial year, despite a rise in revenue, ahead of a "challenging" new financial year.

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30 Sep 2022 13:08

Real Good Food says trading remains tough and intends to cut more jobs

(Alliance News) - Real Good Food PLC on Friday said it is considering further job cuts as macroeconomic headwinds continue to create tough trading conditions.

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30 Sep 2022 11:25

AIM WINNERS & LOSERS: Science in Sport puts up for sale sign

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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30 Sep 2022 09:19

Real Good Food YTD volumes slip amid 'challenging' trading environment

(Sharecast News) - Food manufacturer Real Good Food said on Friday that although it made "a good recovery from Covid" at the start of 2021, trading conditions became more "challenging" since the start of the calendar year.

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30 May 2022 18:29

TRADING UPDATES: UKOG signs lease; Alien Metals to buy Vivash Gorge

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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21 Apr 2022 14:26

IN BRIEF: Real Good Food finance director to depart at end-September

Real Good Food PLC - Liverpool-based cake decorations - Finance Director Maribeth Keeling will leave the company on September 30 "to pursue other interests", having served since July 2019. Real Good Food says it is seeking an interim finance director to allow for a smooth handover.

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20 Apr 2022 13:36

IN BRIEF: Real Good Food performs below expectations amid shortages

Real Good Food PLC - Liverpool-based food producer - Reports revenue of GBP40.5 million for the year ending March 31, representing a 9.0% increase on the previous year. Narrows pretax loss to GBP2.8 million from a loss of GBP6.1 million the previous year. Company says this performance is below what it had anticipated, having performed strongly in the first half of its financial year. Cites a "disappointing" third quarter performance due to severe shortages and "erratic" deliveries of key ingredients. Looking forward, company expects a "challenging" environment in terms of cost and demand pressures.

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20 Apr 2022 12:32

Tough six months sees Real Good Food fall short of forecasts

(Sharecast News) - Real Good Food reported full-year revenue of £40.5m in a trading update on Wednesday - an increase of 9.0% on last year, but below the pre-pandemic prior year.

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14 Feb 2022 10:55

Real Good Food shares fall on lower sales due to Omicron related woes

(Alliance News) - Real Good Food PLC shares tumbled on Monday after the food producer said that sales in December and January had been "much lower than anticipated" due to Omicron related supply issues, delivery challenges and high absence rates.

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14 Feb 2022 10:26

AIM WINNERS & LOSERS: MTI profit warning; Amur falls on Russia turmoil

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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14 Feb 2022 08:41

Shortages, staff absences dent sales at Real Good Food

(Sharecast News) - Cake decorations maker Real Good Food said on Monday that second-half revenue was set to be similar to the same period a year prior after shortages and staff absences dented sales in December and January.

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