Associated British Foods (ABF) has revealed its adjusted operating profit will fall for the 52 weeks to September 12, by at least £30M, due to a significant weakening of the euro.
A Greek exit from the euro could lead to a strong export boom – or it could lead to a depression and hurt eurozone growth, thus wiping out export demand, according to Euromonitor economist Daniel Solomon.
Kerry Group is set to continue to reap the benefits from health and wellness trends, and, in particular, can continue to leverage the industry’s ongoing salt, fat and sugar reformulation efforts, claims an analyst.
Frutarom’s double-digit growth in Q2 is due to accelerated growth in specialty fine ingredients and excellent flavours sales, says the firm, which has a rapid growth strategy in place.
Higher sugar prices and volumes have helped boost third quarter revenues at Associated British Foods, signalling continued strong performance into the second half of the year.
France and Germany have emerged from recession but the global nature of the food industry may mean it takes longer to recover than other sectors, according to a senior economist at Wageningen University.
Associated British Foods looks to be dealing well with the economic downturn, especially in its ingredients division which, with the bulk of its business outside the UK, has benefited from the weak pound.
New Jersey-based International Flavors and Fragrances has reported
a strong increase in its third quarter sales driven by its flavors
division, but profits are hit by administration charges.
As expected, restructuring costs within Danisco's sugar division
have impacted full year results, though organic growth was
'satisfactory under the given trading conditions'.
Danisco's consolidated profit plummeted 25 per cent as expected to
DKK 726 million for the nine months to 31 January, due largely to
costs associated with integrating enzyme business Genencor.
Swiss food giant Nestlé has boosted its Romanian production
capacity with the installation of a new chocolate wafer production
line at its Timisoara-based unit, Joe. The investment reflects the
rapid growth of the Romanian snack market,...
Improved flavour sales in Europe gaining from modest gains in
currency conversions boosted first quarter results for the US
flavour giant International Flavors & Fragrances (IFF).
Strategies in 2003 to get the company back into...
Ireland's food and drink industry had a good year in 2003, at least
on export markets. The latest data from Bord Bia, the Irish food
board, show that exports were 2 per cent higher in 2003 than the
previous year despite weaker...
German speciality chemicals company Degussa sees a downturn in
profits and sales as it fails to realise the potential of its
restructured activities in the current economic climate.
Germany's biggest supermarket retailer, Edeka, is to tackle the
threat from discounters such as Aldi with a 500-strong line of
cut-price own label products.
One less Saturday than in 2001 had a significant effect on French
hypermarket and supermarket sales in December, according to the
latest figures. A Saturday in December can often see sales 35 per
cent higher than in the rest of the...
Expanding its Plus discount supermarket fascia in Spain and
Portugal, and good performances from non-food subsidiaries KiK and
OBI, helped Germany's Tengelmann group to a solid increase in sales
for 2002, despite difficult economic...
Those European retailers with the biggest international spread -
Carrefour and Tesco - top the latest rankings, but the continued
downturn in the global economy means that this policy of expansion
is not without its risks, according...
The first half of the year was not a good one for Spar, the German
retail group, but it would have been even worse if the Netto hard
discount unit had not performed so well.
French industrial output remained flat in November after hefty
drops in the preceding two months, while manufacturing output
continued to slide, but by a gentler 0.3 per cent, French
statistics office INSEE said on Tuesday.
The European Commission has approved the creation of a joint
venture called European Salt Company (ESCO) between German company
Kali & Salz AG and Solvay S.A. of Belgium.
Danish ingredients company Danisco this week reported a five per
cent increase in net sales in the company's main business areas -
Ingredients, Sweeteners and Sugar.
Italian agro-energy conglomerate Montedison said on Tuesday it is
selling its 56-per cent in starch maker Cerestar to U.S.
agribusiness giant Cargill for 33 euros per share.
On June 25, the Anglo-Dutch consumer products giant Unilever
recognised that the imminent introduction of the euro single
currency had helped accelerate...
