Greggs (GRG) sausage rolls are to be delivered to homes across Britain after the bakery chain struck a deal with takeaway company Just Eat (JE.). The delivery service is launching in Birmingham and Bristol this week, before expanding to Manchester, Leeds, Sheffield and Nottingham during the spring. Bakery chain Greggs – which has enjoyed surging popularity after it launched a vegan sausage roll last year – narrowed its choice of partner down to three contenders over a series of trials in London, Newcastle and Glasgow before choosing Just Eat. The companies said they hoped to go nationwide by the end of 2020. Customers will be able to order the chain’s bakery goods, breakfast products and sandwiches via Just Eat’s app, as the delivery chain expands beyond the takeaway restaurants that have long been its core offering.
Quiz (QUIZ) has unveiled dire sales over Christmas, triggering a share price plunge which means the stock has dropped 90% since it floated in July 2017. Revenue in the seven weeks to Jan 4 was 9.3% lower than a year earlier, driven by a 14.8% decline in online sales. Shares dropped a further 17.4% on Wednesday to 15.5p. The stock was floated two and a half years ago for 161p, in a listing which netted a £92m cash pay-out for backers including founder and chief executive Tarak Ramzan. The update is a fresh blow for Mr Ramzan, who last month vowed to boost shares. Mr Ramzan said: “While the trading backdrop remains challenging, it is disappointing to report a decline in revenues in the period.”
Sales at Britain’s second-largest housebuilder Persimmon (PSN) dropped last year following a storm of criticism about shoddy workmanship. The developer said a 2.4% fall in revenue to £3.7bn was driven by a decision to slow down building work and boost quality, after a devastating independent report highlighted fire safety issues and a host of other problems with its properties. The number of houses sold in 2019 was also 4% lower than a year earlier. The average selling price rose just £137, to £215,700. The trading update comes after months of criticism of the property giant over the state of its homes, culminating last in December when the scathing report found a toxic culture meant it was failing to meet minimum building standards.
Questor: plumbing giant Ferguson (FERG) sprang a major leak 14 years ago but today it is much more resilient. Buy. Questor share tip: a rocky time for the plumbing supplies company prompted new management to transform the business for the better
