French vegetable processor Bonduelle broke €2bn in annual sales for the first time, despite what it described as “sluggishness of the consumption in Europe, [the] economic crisis in emerging countries, difficult harvests”.
Flavour and fragrance firm Givaudan said increased sales of its flavours for snacks, beverages and dairy products in Latin America boosted its sales during 2012, as it reported a 15% increase in overall net profit.
Flavour and fragrance firm Givaudan’s first half net profits crashed by 40 per cent as raw material costs and record currency rates take their toll on the Swiss company, despite good local growth in its flavours businesses.
Double-digit growth in the beverage, savory and confectionery sectors helped International Flavors & Fragrances to achieve revenue of $714m in the first quarter of this year; nine per cent up on the same period of last year.
Novozymes saw double-digit growth for its food and beverage enzymes business in the first three months of the year, helping the Danish firm towards solid results and maintained ambitions for the full year.
Signs of recovery in the bakery ingredients market are not yet evident, according to Dutch supplier CSM as first quarter results released this week show a decline in volumes by 1.2 per cent on Q1 2009.
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.
The global economic crisis will yield rich pickings for food firms with a strong capital structure. So believes Frutarom, which has reported another quarter of impressive growth figures on the back of its most recent acquisitions splurge.
Tate & Lyle is expecting to report £11m less profit that
predicted for the year ended March 31, as a result of unfavourable
exchange rates against the US dollar, but is still expecting to
maintain levels seen in the first half.
France's Naturex has bought the active ingredients division of
compatriot Berkem - its second strategic acquisition in three weeks
and one that will open up major new sales channels for Berkem's
Swiss food giant Nestlé has announced a first-quarter sales rise of
14.1 per cent to CHF22.8bn (€14.5bn), beating analyst expectations
and reconfirming its full-year target of a five to six per cent
Disposals and currency exchange rates pushed down full-year sales
at Nestlé, the world's biggest food producer, but the decline had
no impact on profitability, which grew by a healthy 8.1 per cent
during 2004. IN order to stay...
Barry Callebaut, the world's leading supplier of chocolate to the
confectionery industry, has reported a 6 per cent fall in first
quarter sales revenues to CHF1.15bn (€0.79bn) as squeezed margins
bit into its bottom line. The...
Recovery at Dutch retailer Ahold is still well on track, but the
impact of disposals, and the continuing decline of the US dollar
against the euro, pushed down the headline sales figure in 2004.
But with just a few more planned disposals...
German retail group Metro has posted full-year sales growth of 5.3
per cent for 2004, in line with analysts' expectations. But with
the figures boosted by positive exchange rates, the underlying
sales performance reflects ongoing...
Hungarian food canner Globus has dropped into the red in the third
quarter of 2004, with pressure on prices and the sale of a
production facility contributing to the poor performance. But a
steady move in Hungary towards higher added-value...
The widespread restructuring of Ahold's business announced two
years ago looks set to continue to impact results at the Dutch
retail group this year, with first quarter results hit by disposals
and currency exchange rates.
Wimm-Bill-Dann Foods, one of Russia's leading dairy and soft
beverage companies, has announced a fall of 25.4 per cent in its
net quarterly income due mainly to the rising price of milk and
depreciation of equipment.
Poor first quarter figures from two of Europe's leading food retail
groups were attributed to both companies' exposure to the US
market, where the weak dollar has significantly impacted
euro-denominated sales. But neither...
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...