Pauls has received strong support from the Queensland community for its campaign to raise money for flood relief. This month Parmalat is donating 100 percent of the profits from the Queensland sales of its Pauls branded fresh milk range including Pauls Full Cream Milk, Smarter White, PhysiCAL, Trim, Skinny Milk and Breaka fresh flavoured milk products. Parmalat CEO, Craig Garvin, said the company was grateful for the strong support Queenslanders were providing and plans for the distribution of the... ...Read more »

Parmalat today approved its third 2010 Interim Report on Operations, reporting a net increase in revenues of 9.5%, to 3117 million euros, citing strong performance in Australia and Canada, thanks in part to the consolidation of the Parmalat Food Products operations, including former National Foods asset FreshCo, acquired in July 2009. The company was also assisted by the devalued euro, compared to the strong currencies in many of its operating countries. While the result was positive, it wasn’t... ...Read more »

Italian dairy giant Parmalat has seen its first-half profits slide on the back of a fall in settlements from legal cases linked to its 2003 bankruptcy.Parmalat, which has so far recovered about EUR2bn (US$2.6bn) from banks and auditors it accused of participating in the fraud, said late last week that its net profit reached EUR147.4m for the first six months of 2010 – down from EUR247.8m a year earlier. EBIT fell from EUR288.5m in the first half of 2009 to EUR176.7m this year. However, Parmalat... ...Read more »

Woolworths has shaken up its milk supply, with a decision to award its own-label contracts to more than one supplier. The retailer today (8 June) confirmed that it had chosen to source milk from Parmalat and Murray Goulburn and not just National Foods, which had been its sole supplier of own-label milk since 2002. A spokesman for Woolworths said the retailer had awarded its contract for Queensland to Italian dairy giant Parmalat. Murray Goulburn will now serve a clutch of stores in the ACT and in... ...Read more »

Parmalat S.p.A. has announced the appointment of Craig Garvin to the role of Chief Executive Officer of Parmalat Australia. Mr Garvin replaces Fabio Genitrini who, in June this year, took over from David Lord when he resigned after eight years as CEO. “Within the Australian marketplace, Mr Garvin has a strong FMCG background in well known branded companies and hospitality industry,” the Italian dairy firm said in a statement. His appointment is effective starting from 11 January, 2010.  Read More →

Dairy group Parmalat has reported revenue growth of 1.7% in the first nine months of 2009, with higher prices helping to boost sales. The Italian-based firm reported “positive results” in Australia, with EBITDA more than doubling. “Stated in Australian dollars and without counting the revenues related to the assets acquired in the third quarter (52.5 million), net revenues increased 0.6%, rising from $565.9 million in the first nine months of 2008 to $569.3 million in the same period... ...Read more »

Parmalat S.p.A. has finalised their settlement with the Bank of America after a long running battle in the wake of Parmalat’s 2003 collapse. The Italian dairy firm received US$98.5 million (A$112.5m) on October 2 following allegations that the Bank of America had sold Parmalat bonds while well aware that the company was under severe economic stress. The bank refutes the claims, with the case now closed before it ever reached court.  Read More →

South Australia’s milk vendors will be able to negotiate in groups with National Foods and Parmalat for another five years under an authorisation granted by the Australian Competition and Consumer Commission. Milk vendors are small businesses that on-sell dairy products from dairy processors or transport dairy products for them. The ACCC has authorised the Transport Workers Union of Australia SA/NT Branch to engage in collective bargaining negotiations with National Foods and Parmalat on behalf... ...Read more »

Italian dairy firm Parmalat has seen profit fall as a result of decreased proceeds from legal proceedings relating to their 2003 collapse, while revenues were hurt by foreign exchange rates. Restated at constant exchange rates, however, Parmalat saw sales rise by 2.6 per cent in the first half. Savings from lower raw milk costs helped offset competitive pressures, the company said. “During the first six months of 2008, the Group continued to face strong competitive pressure from private labels,”... ...Read more »

Dairy firm Parmalat this week competed the $70 million purchase of assets from National Foods, which will boost their revenues in Australia by around 26 per cent. The transfer of 12 National Foods depots in the NSW and ACT and 13 Dairy Farmers depots in South Australia, as well as the Lidcombe processing plant was made on Monday. The maker of Pauls milk also receives a 2 year licence to manufacture, distribute and sell the Daisy Fresh and Pura range of fresh white milk in NSW and the ACT along with... ...Read more »