Future PLC FY21 Profit Surges, Lifts Dividend; Now Sees FY22 Results Materially Above Current View

Calise & Sons Bakery Recalls Golden Flax Scala Bread

Calise & Sons Bakery, Inc. is recalling certain Golden Flax Scala Bread for the possible presence of sesame seeds, an allergen, the U.S. Food and Drug Administration said.

The company said it produced Italian Scala Bread, i.e., Italian bread w/Sesame Seeds, on November 23, and by error packaged those in a bag that says Golden Flax Seed Scala Bread. The packages have UPC of 0 7519902816 6, and a white plastic clip closure with a sell by date of 12-06 and Julian date of 327.

A total of 689 packages were produced that went out to markets in RI, MA, NH and CT.

The company said it is working to retrieve all products, and pulled off products not yet distributed. There are approximately 100 packages that are unaccounted for.

Calise & Sons urged the consumers with a known allergy to sesame seeds to consult with their physician immediately.

In similar recalls, San Jose, California -based Demaiz Inc., doing business as Mex-tamale Foods, in late October called back around 20,759 pounds of pork and beef tamales that contains undeclared sesame seeds.

Greencore Turns To Profit In FY21; Sees FY22 Profits In Line With Market

Greencore Group plc (GNC.L), a British manufacturer of convenience food, reported Tuesday that its fiscal 2021 profit before tax was 27.8 million pounds, compared to prior year’s loss of 10.8 million pounds.

Basic earnings per share were 5 pence, compared to loss of 2.6 pence last year.

Adjusted profit before tax was 22.6 million pounds, compared to 17.3 million pounds a year ago. Adjusted earnings per share were 3.7 pence, compared to prior year’s 2.9 pence.

Group revenue went up 4.8 percent to 1.32 billion pounds from 1.26 billion pounds a year ago, driven by a return to growth in food to go categories and solid growth in other convenience categories.

Pro Forma revenue growth was 6.2 percent in the year.

Looking ahead, the company said trading in early fiscal 2022 has been encouraging with continued positive revenue momentum across the business. As mobility increases towards pre-pandemic levels, there is strong demand in food to go and other convenience categories.

The company expects to generate an FY22 outturn in line with current market expectations.

Patrick Coveney, Chief Executive Officer, said, “New business wins achieved last year are contributing to our momentum, and we anticipate delivery of profits for the year ahead in line with current market expectations… Greencore has a strong position in the dynamic UK convenience food market and, with demand remaining strong in the early stages of FY22, has confidence in its medium-term prospects.”

Sagent Pharma Recalls Seizure Drug Levetiracetam Injection

Sagent Pharmaceuticals, Inc. is recalling four lots of seizure drug Levetiracetam Injection, USP, to the user level across the United States, the U.S. Food and Drug Administration said.

According to the regulator, the lack of container closure integrity, found in reserve sample vials, may result in a non-sterile product.

The recall involves Levetiracetam Injection, USP 500 mg per 5 mL, which is used in the treatment of certain types of seizures. The product is packaged in a 5mL single-does vial, and was distributed across the country from March to November 2021.

Intravenous administration of a product intended to be sterile that is not sterile could result in serious systemic infections which may be life threatening.

However, the company has not received reports of any product complaints or adverse events associated with the issue to date.

The affected customers have been instructed to examine their inventory immediately and to quarantine, discontinue distribution of, and return as directed the recalled lots of product.

Pennon Group H1 Underlying Profit Before Tax Rises; Revenue Up 21.8%

Pennon Group PLC (PNN.L) said its first half results were in line with management expectations. The Group recorded growth of 21.8% in underlying revenue, with Bristol Water contributing 41.6 million pounds.

First half underlying profit before tax was 90.4 million pounds, up 4.3% from prior year. Basic adjusted earnings per share from continuing operations before exceptional items and deferred tax was 30.6 pence compared to 26.8 pence.

Profit before tax increased to 79.9 million pounds from 61.9 million pounds. Loss per share was 6.3 pence compared to profit of 12.0 pence.

Revenue was 389.3 million pounds compared to 319.7 million pounds, previous year. Organically, underlying revenues were up 8.8%.

Future PLC FY21 Profit Surges, Lifts Dividend; Now Sees FY22 Results Materially Above Current View

Future plc. (FUTR.L), a platform for specialist media, reported Tuesday that its fiscal 2021 profit before tax climbed 107 percent to 107.8 million pounds from last year’s 52.0 million pounds.

Earnings per share grew 28 percent to 58.1 pence from last year’s 45.4 pence.

Adjusted earnings per share were 131.9 pence, compared to 74.7 pence a year ago.

Revenue for the period grew 79 percent to 606.8 million pounds from 339.6 million pounds last year. Organic revenue grew 23 percent, or 15 percent average over a two-year period.

Further, the company proposed dividend for the year of 2.8 pence per share, up 75 percent year-on-year, reflecting the growth of the Group and the confidence in the future.

Looking ahead, Zillah Byng-Thorne, Future’s Chief Executive, said, “We expect our operating model to drive enhanced scalability and operating leverage, leading to further margin expansion, and we are therefore upgrading our outlook for the full year and now expect adjusted results in FY 2022 to be materially above current expectations.”