City briefs
- Japanese bank Nomura, which owns Unique Pub Company, Inntrepreneur Pub Company and Inn Partnership, has issued a profits warning.
Although its UK pub arm Nomura Principal Finance has performed well, problems in other parts of its global empire are set to lead to losses of about £2.8bn for the latest financial year.
The wet summer hit sales for soft drinks producer JN Nichols (Vimto), which supplies draught products to the on-trade through Cabana Soft Drinks.
Pre-tax profits for the year to December 31 were down 23 per cent to £8.1m while turnover slipped 2.8 per cent to £72.9m.
Allied Domecq is set to raise £100m to focus on its key brands by selling a 50 per cent stake in Spanish bakery group Panrico.
It is to be sold to Panrico chief executive Alberto Costafredo for £80m, with a further £20m paid if it is sold or floated.
Don Goulding, the managing director of UDV UK, is to temporarily take on the role of marketing after the departure of marketing director Tony Scouller.
Scouller is retiring in June after helping with the integration of his former employer IDV with United Distillers following the Diageo-Grand Metropolitan merger.
The former boss of food distribution giant Booker, Sir Michael Caine, has died at the age of 71.
Over more than 40 years he helped to shape Booker, becoming chairman until 1993.
