UPDATE 1-Darden Restaurants to buy Cheddar's Scratch Kitchen for $780 mln
March 27 Olive Garden owner Darden Restaurants Inc said on Monday it would buy Cheddar's Scratch Kitchen for $780 million in an all-cash transaction.
LONDON, March 9 Morrisons, Britain's fourth biggest supermarket, reported a rise in annual profit for the first time in five years, cementing its revival under a new management team.
The Bradford, northern England, based group, which trails market leader Tesco, Sainsbury's and Wal-Mart's Asda, said on Thursday it made an underlying pretax profit of 337 million pounds ($410 million) for the year to Jan. 29 2017.
That was up 11.6 percent from last year's 302 million pounds and compared to analysts' average forecast of 335 million pounds.
Net debt was cut by 552 million pounds to 1.19 billion pounds.
"We are confident we can continue to turnaround and grow Morrisons," it said.
The supermarket did, however, warn of "uncertainties ahead", especially around the impact on imported food prices if sterling stays at lower levels, as well as rising depreciation, pension and staff costs. ($1 = 0.8224 pounds) (Reporting by James Davey. Editing by Jane Merriman)
SAO PAULO, March 27 Brazil's agriculture ministry said Monday that it had ordered three more food processing facilities to suspend production amid an investigation into alleged corruption of inspectors and unsanitary conditions in the world's biggest meat producer.