Greggs (GRG) faces a hit from an African swine fever epidemic which is pushing up global pork prices. The firm could be among the businesses stung by the outbreak, which has infected 100 million pigs in China alone and wiped out a quarter of the animals worldwide, analysts at Peel Hunt said. Despite that, Greggs’ shares shot up by more than 17% after it raised profit forecasts for the fourth time this year. Greggs now expects full-year profits to be higher than previously expected, with in-house broker Edison previously forecasting earnings of £107m.
Shoppers Down Under will soon be tasting the difference after Sainsbury (J) (SBRY) struck a deal to sell its own-label products through Coles, one of Australia’s biggest supermarkets, in a bid to drive up revenues from wholesale after the failed Asda takeover. It will be the supermarket’s biggest wholesale deal so far, but it is playing catch-up with rivals. The tie-up will put Sainsbury’s food and groceries in more than 2,400 stores in Australia as well as online from next year.
Dignity (DTY) is seeking to cash in on a trend for mail order funerals as relatives seek alternative ways to remember their loved ones. Dignity has seen a surge in sales of direct cremations – in which the funeral provider collects and cremates the body, then returns the ashes. Chief executive Mike McCollum speculated direct cremations could eventually account for 20pc of the overall market from just a few percent now. The service is much cheaper – typically less than half the average funeral cost in the UK of £3,757- but Mr McCollum said attitudes rather than cost was driving the trend.
Questor – IP Group (IPO): as investors run in fear from ‘incubators’, the brave may scent the chance of treasure. Questor share tip: firms that seek to commercialise intellectual property are heavily out of favour – and that gives rise to opportunity
