Despite a double-digit increase in retail sales during the pandemic, most grocery retailers continue to grapple with tight profit margins which could be squeezed further as restaurants and the foodservice industry reopen but many coronavirus-related expenses...
Butterfinger maker Nestlé refuses to speculate if it will offload its challenged US confectionery business, but says it is “no stranger” to portfolio trimming.
US processor Smithfield Foods has reported strong fresh pork earnings in the second quarter, despite a 91% drop in overall earnings as a result of a debt extinguishment charge.
Maple Leaf Foods saw a return to operating profit in Q3 2012, with a drop in pig business profits offset by a strong performance in prepared meats and fresh poultry.
Unilever has beat analysts' expectations with a 5.1% rise in underlying sales in the fourth quarter, but said operating margins were dented by commodity price hikes.
The sale of Tate & Lyle’s international sugar trading business to US oilseed firm Bunge is now unconditional, removing the UK sweetener group from the volatile sugar market.
Risk management tools benefiting from volatile commodity markets
bring strong gains to US ingredients giant ADM in the latest
quarter, but profit for starch and sweeteners impacted by higher
corn prices.
Barry Callebaut today said profits for the first half of the
year remained stable as high input and expansion costs
offset overall sales volume increases for the Switzerland-based
firm.
Danisco is reorganising its ingredients business in a bid to target
market trends like health and wellness more closely, and deal with
issues that have been affecting parts of its portfolio.
Confectionery firm Hershey today announced an average wholesale
price increase of three per cent across the US, as the company
moves to improve on the disastrous profit loss posted last week for
the fourth quarter.
US-based Hershey yesterday posted a Q4 operating profit drop of 65
per cent, as high commodity costs, restructuring charges and
competitive US market conditions continue to dog the confectionery
giant.
The Sudzucker group has reported a 18.3 per cent increase in sales
for the first nine months of its year thanks to special products
and fruit preparations, while sugar was responsible for a big drop
in operating profit.
Tate & Lyle has completed its sale of its Mexican sugar
business, removing itself from volatile commodity markets and
allowing it to refocus on value-added ingredients.
An increased demand for natural ingredients has led to a 23 per
cent growth in Frutarom's sales for the third quarter, but profit
is down because of rising raw material costs and the impact of
acquisitions.
Kellogg today said that high commodity costs led to a one per cent
decrease in operating profit during the third quarter, despite a
six per cent increase in sales.
Tate & Lyle has taken new measures to remove itself from
volatile commodity markets and refocus on value-added ingredients,
with a plan to sell its Mexican sugar business, Grupo Industrial
Azucarero de Occidente.
Controlling costs with an iron hand and upping sales prices has
helped Danisco's ingredients division towards Q1 growth, against an
overall profit dip as a result of ongoing sugar reform.
Frutarom has announced an increase in sales in its second quarter
results issued this morning, which it says is down to reaping the
rewards of a strategy of buying smaller companies - but work is
needed to boost its profit margins.
Chr Hansen has announced plans to divest its coatings and
excipients business in order to focus on core activities in
cultures, enzymes, natural colours and flavours.
Agrana has reported its first set of annual results in which its
fruit segment outstripped sugar and starch as a source of revenue,
following a refocus in the wake of EU sugar reform.
Leading banana supplier Chiquita has reported a $3m loss for its
first quarter, hit by increased industry costs, unfavorable pricing
and an exit from unprofitable business in Chile.
Raisio is starting to see the results of rationalisation measures
with a Q1 result that was back in the black - though work still
remains before its food division regains profitability.
DSM has reported flat sales for its Nutrition division in the first
quarter of 2007, but a new, forward looking programme is already
underway to improve profitability and place emphasis on product
differentiation.
Israeli flavours and ingredients supplier Frutarom has reported
sales growth in Q2 2006 to US$72.3m. Although profits were impacted
by price drops in natural raw materials and energy price hikes, new
acquisitions are still on the...
Spice company McCormick said yesterday that its Q1 profits and
sales were lower than expected, pushed down by struggling vanilla
prices, but remained confident for the rest of the year, writes
Philippa Nuttall.
Barry Callebaut, the world's top supplier of industrial chocolate
to the confectionery industry, has delivered strong profit for the
year, boosted by the integration of recently acquired US
confectionery firm Brach's and...
Despite a 'challenging' year that saw profit before tax falling by
24 per cent for the first six months, UK flavours company Treatt
has reined in results posting a steady, erring on grey, set of
figures for the year.
Despite tougher trading conditions UK food and food ingredients
business Associated British Foods (AB Foods) reported on Tuesday
that operating profit had risen 14 per cent for the first 24 weeks
ended 1 March 2003 to £204 million....
