Revenue

JBS has reported an 80% year-on-year drop in net income

JBS net income drops in second quarter

By Aidan Fortune

JBS suffered a mammoth 80% year-on-year drop in income for the second quarter of the year, due to growing net financial expenses. 

Irish poultry processor Manor Farm is to be taken over by Scandi Standard

Scandi Standard to buy Irish poultry firm

By Aaron McDonald

Nordic chicken group Scandi Standard has a reached an agreement to purchase Ireland’s largest chicken processor, Manor Farm, for €94 million (m). 

© iStock / Saklakova

Kerry Group selects new CEO

By Emma Jane Cash

The board of the Irish food and ingredient manufacturer has chosen Edmond Scanlon, the current chief executive of the group’s Asia-Pacific operations, to become the new CEO.

JBS brand Seara saw export revenue drop by 5% thanks to rising cost of raw materials

JBS profits rise but headwind intensifies

By Oscar Rousseau

Brazilian meat business JBS posted increased net revenue for the second quarter of 2016, but said it faced “significant cost increases” in raw materials, particularly in Brazil.

Savola has slashed its dividend after announcing an 80% fall in first-quarter profits year-on-year. (© iStock.com)

Savola Q1 profit plummets 80%, dividend slashed

By Eliot Beer

Saudi food producer Savola has slashed its dividend after announcing an 80% fall in first-quarter profits year-on-year, with food revenues falling 8.6%, brought down by its edible oil operations.

© iStock

Domty gets the cream as profits surge 355%

By Shane STARLING

Egyptian dairy producer Domty is celebrating a 355% year-on-year rise in annual profits, netting US$14.5m, just days after its highly-oversubscribed launch on the Egyptian stock market.

Euromonitor downgrades global growth rates 2 points to 2.3%. © iStock

Global packaged food market set for downturn

By Niamh Michail

Emerging market slowdowns are having a knock-on effect on the global packaged food market, according to market analyst Euromonitor, which has downgraded its growth forecast for the next five years. “It’s understandably of a concern to many in the industry."

Nomad Foods has acquired Iglo Group for about £1.87bn

Nomad Foods reports £392M loss as empire grows

By Alice Foster

Nomad Foods, the new owner of frozen food company Iglo Group, has reported a £392M loss in the six months to June 30 as the investment firm eyes other potential acquisitions.

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