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Premier Foods reports full-year losses, due to impairment of sweet sector

first_imgFood giant Premier Foods has increased its losses due to impairment charges, largely related to its sweet business, which includes the Mr Kipling brand.The company saw losses after tax of £92.7m in its full year results, after it impaired its goodwill to its sweet treats sector by £67.9m.For the full-year period to April 2015, branded sales were down 4.1% to £683.7m. However, for the last quarter, branded sales remained flat at £170.1m.The food firm explained that the impairments were because goodwill from past acquisitions was allocated to the combined grocery and sweet treats business units. However, as a result of restructuring it had reassessed the carrying value of its sweet business as a standalone entity.Meanwhile, the company is set to implement a new snack pack line at the Barnsley factory in South Yorkshire, which has reached commissioning stages.It said this would increase the snack pack slices capacity by over 130% and give additional flexibility on pack format sizes – providing opportunities to enter the convenience channel through twin-pack formats.Trading profit was in line with expectations at £131m, and the company believed the sweet sector, which includes its power brand Mr Kipling, “presents many further opportunities for future growth”.Gavin Darby,chief executive, said: “While it is encouraging to note the return of volume growth to both our categories and the wider grocery market, we expect the near-term trading environment to be challenging, and our expectations for the year are unchanged.“I remain confident that our strategy of investing in brands, innovation and infrastructure is the right one for Premier Foods, and see increasing evidence that our efforts are starting to pay off. The Board is firmly focused on the creation of future value, and believes that its investment and growth strategies, combined with a focus on cost efficiency, trading profit delivery and organic de-leveraging, are well positioned to deliver success.”Cake brandsThe company was upbeat about its major cake brands, Mr Kipling and Cadbury cake.It said that the branded relaunch of Mr Kipling, along with a strong advertising campaign in 2014, had increased volumes, sales and share in the quarter.It also said that volumes, sales and share increased for Cadbury cake due to the earlier timing of Easter 2015.During the first half of 2015/16, Cadbury cake will benefit from its first TV advertising campaign for eight years and will see new limited-edition products launched in time for Halloween.last_img read more

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Trail Mix – Ben Gilmer

first_imgBen Gilmer sings of  Southwest Virginia’s hard times and humble goodness on his new record.I’m a sucker for the sights, aromas, and  sounds of a good county fair.Can anything top the smell of funnel cakes frying, the stunning collection of bad tattoos on proud display, or the adrenaline rush that comes from entrusting one’s life to a rickety thrill ride hastily constructed by a carny crew whose qualifications are dubious at best?Unlikely.Singer/songwriter Ben Gilmer must share my love of all things related to the midway, as the Virginia native titled his recently released record Russell County Fair.Gilmer, born and raised on a farm in Russell County, has since moved on to West Virginia after a stint in Seattle. Regardless of where he has called home, Gilmer has continued to write songs that echo with the musical traditions of his native Appalachian Mountains. Tales of hard times, bad luck, and the future of a region beset by the struggles of its past abound in his writing and on this new record.I recently caught up with Ben to chat about the future of Southwest Virginia, growing up in a musical family, and country fair fare.BRO – Did you come from one of those Southwest Virginia families where everyone played something with strings?BG – Pretty much. My Paw on my dad’s side played about everything with strings, his children played in a family band called Jenny & The Gentlemen, and a lot of us grandchildren play. My Aunt Ann on my mom’s side was one of my biggest musical influences. She has done a good bit of studio work through the years and is just an all around killer musician. Both sides of my family still have jam sessions at family gatherings at least a few times a year.BRO – How did growing up in Southwest Virginia influence you as a musician?BG – My childhood in Southwest Virginia was full of bluegrass, country, gospel, and Southern rock music. It’s probably not too hard to hear that background in the songs that I write. And I grew up around a lot of humble, hardworking, honest, and witty Southwest Virginians. I generally aspire to embody those qualities in my songwriting, even if I sometimes fall short.BRO – We are featuring “Tastes Like Hard Love” on this month’s Trail Mix. Should everyone, at some point, get a little taste of hard love?BG – I think everyone experiences hard love. I guess we need to know how it tastes in order to recognize and appreciate the sweet stuff when it shows up.BRO – Southwest Virginia has faced some tough times recently. Where do you think the region goes from here?BG – I believe it is really up to us to determine where we go from here. Even if it sucks, this means accepting no single person, policy, or industry is going to save or bury us. A good friend of mine likes to say that there isn’t going to be a silver bullet in Central Appalachia, but there sure could be a lot of silver BBs. I am hopeful that we can embrace and learn from our past, honor our traditions, build on our assets, and keep our eyes focused on the present and future.BRO – What’s your go to fair food?BG – No question – a big pork bbq sandwich from my Uncle David’s Cliffside Grille booth. This is the same uncle that dressed up as Elvis and painted his car pink for his demolition derby debut at the Russell County Fair. Don’t I have the coolest family ever?You can track down more information on Ben Gilmer by surfing over to his website. His touring schedule is a bit quiet right now, but shows will be picking up soon. In the meantime, be sure to peruse the tracks from Russell County Fair.Also, make sure you take a listen to “Tastes Like Hard Love” on this month’s Trail Mix.last_img read more

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H-DNL football: Hoopa Valley outlasts McKinleyville in 32-21 victory

first_imgSenior quarterback John Smith threw two touchdown passes and the Hoopa Valley Warriors spoiled homecoming for the McKinleyville Panthers, downing the home team 32-21 in a Little 4 Conference showdown Friday night at the Redwood Bowl.Hoopa Valley (3-4, 2-2) may have owned the night, but it was McKinleyville (1-7, 0-4) which for the second consecutive week struck first.Christian Amato recovered a Warriors’ fumble early in the first quarter to set up the Panthers’ offense up at midfield.Caleb …last_img read more

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Ulstein to Build New Polar Ship for Lindblad Expeditions

first_imgUS-based expedition cruise company Lindblad Expeditions Holdings has signed an agreement with Norwegian shipbuilder and ship designer Ulstein for the construction of a new polar expedition ship.The vessel will be the first polar newbuild in the Lindblad Expeditions-National Geographic fleet.​ The ship will be built in Ulsteinvik, Norway and is scheduled for delivery in the first quarter of 2020, with an option for two additional ships to be delivered in subsequent years.Designed by Ulstein, the polar vessel was envisaged as the ultimate expedition platform with a focus on safety and comfort, as well as incorporating innovative sustainability solutions to reduce its environmental impact, the company informed.A core feature is Ulstein’s X-BOW®, a bow that provides fuel efficiency, and a very high ice class for access deep into polar regions. The ship’s expanded fuel and water tanks provide for extended operations in remote areas; while the zero-speed stabilizers will ensure stability underway, whether at zero speed when stopped for wildlife observation, or embarking/disembarking the ship.“We are incredibly excited to be working with Ulstein and their brilliant team of engineers and designers on this state-of-the-art vessel as we continue expansion of our fleet. It is the next step in the long-term growth of the company, and will be the most extraordinary global expedition ship in the world on a multitude of levels,” Sven Lindblad, President and CEO of Lindblad, said.Image Courtesy: Ulsteinlast_img read more

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Todays Weather Forecast

first_imgFacebook Twitter Google+LinkedInPinterestWhatsAppNassau, Bahamas, February 20, 2017 – A WEAK FRONTAL SYSTEM IN THE VICINITY OF THE CENTRAL AND SOUTHEAST BAHAMAS WILL CONTINUE TO MOVE SOUTHEASTWARDS AND EXIT THE AREA TODAY.NORTHWEST BAHAMAS, MOSTLY SUNNY AND MILD TODAY. FAIR AND COOL TONIGHT.  CENTRAL & SOUTHEAST BAHAMAS VARIABLE CLOUDINESS AND BREEZY WITH A FEW SCATTERED SHOWERS AND THE CHANCE OF ISOLATED THUNDERSTORMS IN THE VICINITY OF THE FRONT. MOSTLY FAIR AND MILD TONIGHT.Today’s high is forecast at 81°, the low 68°.#MagneticMediaNews The Luxury of Grace Bay in Down Town Provo Facebook Twitter Google+LinkedInPinterestWhatsApp ALERT # 2 ON POTENTIAL TROPICAL CYCLONE NINE ISSUED BY THE BAHAMAS DEPARTMENT OF METEOROLOGY THURSDAY 12TH SEPTEMBER, 2019 AT 9 PM EDT Related Items:#magneticmedianews Recommended for you Electricity Cost of Service Study among the big agenda items at September 11 Cabinet meetinglast_img read more

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OFFICIAL Rodgers new Leicester City manager

first_imgThe Northern Irish coach has been appointed as the Foxes coach after almost three years with Scottish Premier League club Celtic.After four years of his last English Premier League adventure, Northern Irish manager Brendan Rodgers has returned to England to coach.He has been appointed as the new Leicester City boss with a contract until June 2022.Rodgers spent two and a half seasons at Celtic Park in the Scottish Premier League.“It feels great, it’s obviously come very quickly and obviously, of course, over the last few days, but I know I’m joining a fantastic club that has grown so quickly over these last few years,” Rodgers told LCFC TV.“I’m just delighted to be here. I think there was a number of reasons [why I joined]. I was certainly in no hurry to leave Celtic. Celtic is a club that’s a huge club worldwide, a renowned club, and I loved working with the players there.”“We were on a journey of great success over these last years but when the opportunity came to talk to Leicester and I was able to analyze it, it allowed me to think that I’d probably achieved and taken the club may be at Celtic as far as I could at this moment,” he added.“The opportunity to speak with Leicester and find out their ambitions and where we can grow the club and the training facility. Of course, the big attraction for me is working with the players.””I’m joining a fantastic club.” 🔵Hear from our new First Team Manager as we say #WelcomeBrendan 👇Harry Maguire, Manchester UnitedLiverpool legend Nicol slams Harry Maguire’s Man United form Andrew Smyth – September 14, 2019 Steve Nicol believes Harry Maguire has made some “horrendous mistakes” recently, and has failed to find his best form since joining Manchester United.— Leicester City (@LCFC) February 26, 2019“It’s a young squad, a very dynamic squad, it’s got huge potential and you’ve got some of the players with good experience also. There was a number of factors in being here and, as I say, I’m absolutely delighted,” he continued.“Coming into the club at this point of the season, it’s never normally ideal, but it gives me the chance to observe and analyze the players over this last period of games.”“I know it’s been a really difficult season for the Club on and off the pitch. It’s been really emotional in many ways,” Rodgers added.“For me, it’s the case of just trying to stabilize the emotion of everything that’s happened this season and looking to inspire the players so that they can then inspire the supporters.”“Myself and my staff will come in and we’ll look to immediately put in place our philosophy and that identity that my teams normally play with and hopefully then over the course of time, the supporters will recognize that and they’ll come to enjoy it,” he concluded.#WelcomeBrendan 🦊— Leicester City (@LCFC) February 26, 2019last_img read more

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CIO Magazine Goes DigitalOnly

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In Other News DOD Removes DFARS Right of First Refusal Clause affecting

first_img Dan Cohen AUTHOR DOD last week issued a final rule removing a clause from the Defense Federal Acquisition Regulation Supplement (DFARS) requiring contractors to give federal employees at closing installations the right of first refusal for certain jobs with contractors hired to prepare the installation for closure, or to maintain it after closure, as it is duplicative of an existing Federal Acquisition Regulation clause. … The Department of Health and Human Services (HHS) reported last week that its shelters for housing migrant children are 95 percent full, but the agency has not yet asked to use any of the installations in Texas and Arkansas it recently evaluated for that purpose, Dana White, the Pentagon’s chief spokesperson, said Thursday. HHS officials last month visited Fort Bliss, Goodfellow AFB, Dyess AFB and Little Rock AFB to assess their suitability for housing minors who are apprehended at the nation’s southern border without an adult relative or after law enforcement officials have separated them from their parents.Photo courtesy of U.S. Customs and Border Protectionlast_img read more

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Taxing with parity India all set for GST says top Finance Ministry

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Landslide at Ethiopia garbage dump kills 30

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