Grocery and liquor wholesaler Metcash Limited has seen profit fall 7.1 per cent in the six months to October 31, 2008 due to a one-off interest hedging termination cost, but profit after tax and pre non-recurring item rose 12.9 per cent from $86.2 million to $97.3 million. An 8.2 per cent rise in wholesale sales to $5.3 billion was recorded “despite challenging economic conditions and strong price competition in the retail sector”. Metcash Chief Executive Officer, Mr Andrew Reitzer said... ...Read more »

Australia’s largest supermarket operator, Woolworths, has informed shareholders that their growth outlook remains on track, with plans to strengthen their market position in coming years. The nature of their business would partially “shield” them from the impact of any downturn, with investments unlikely to dry up because of economic conditions. Speaking at their AGM today, Woolworths Chairman James Strong outlined his belief that there was “continuing potential” to... ...Read more »

H. J. Heinz Company has announced solid growth reflecting higher sales and the benefit of the Company’s strategic decision to hedge translation exposures on key currency exchange rates for the quarter. While the world’s leading soup maker, Campbell Soup Company, has posted sales growth of 3 per cent in their first quarter. Heinz benefited from 5.8% organic sales growth, led by the Company’s Top 15 brands, which posted organic sales growth of 8.5%. Heinz banked a 3.5% second-quarter... ...Read more »

Australia’s largest publicly listed food manufacturer, Goodman Fielder, has warned that first-half profit is likely to be down 15% on last year with private label pressure and commodity costs impacting on the business. The company booked a 10.2% increase in revenue to $2675.4 million in the fiancial year 07/08 and net profit, on a normalised basis, rose marginally to $220.7 million. “Today in our region we are operating in a climate of considerable uncertainty. We are in the midst of... ...Read more »

Australian owned and operated Domino’s Pizza Enterprises Ltd (”Domino’s”) announced at their AGM yesterday that positive same store sales growth had been recorded during the first four months of trading for 2008/09 in all markets, as their global expansion continues in earnest. Domino’s Chief Executive Officer Don Meij said markets were currently performing well given the current global economic climate. “With four months of trading already completed, group sales... ...Read more »

Unilever has posted third quarter underlying sales growth of 8.3%, as they continue to reap rewards from investing in their brands. The global consumer goods giant managed to also increase volume by 0.6% for the quarter despite raising their prices. In Australia, where their prominent food and beverage brands include Streets, Flora and Lipton, they reported a better third quarter with “good volume growth and a greater contribution from price”. “In the first nine months of the year... ...Read more »

Australian supermarket chain Franklins has posted its maiden first-half profit since being acquired by prominent South African retailer Pick ‘n Pay back in 2001. Since the takeover the company has struggled to make inroads in the Australian grocery sector but appears to be finding its feet after posting its first full-year profit earlier this year. Franklins now operates 83 supermarkets throughout the state of New South Wales, seven of which are franchise stores. Three new corporate stores... ...Read more »

Coca-Cola Amatil has announced they are on track to meet profit guidance and may have found the right energy drink to compete with V and Red Bull, with sales of Mother surpassing expectations. “Notwithstanding the volatile market conditions, CCA has experienced solid trading in the third quarter,” a statement from the company advised. “The Australian beverages business has cycled very strong volume growth in Q3 2007 and delivered performance in line with expectations. The Australian... ...Read more »

PepsiCo, one of the world’s largest food and beverage companies, has announced a ‘Productivity for Growth Intiative’ expected to provide the company with savings of US$1.2 billion. The expected savings are to be invested in brand building, long-term R&D, innovation and growth initiatives in key markets. Approximately 3,300 jobs will go worldwide as the American company seeks to improve on their third quarter net revenue growth of 11 per cent - which failed to meet expectations.... ...Read more »

Australian grocery and liquor wholesaler Metcash maintained earnings guidance of after tax profit of almost $197 million on the back of sales revenue expected to pass the $10 billion mark for the first time. The third largest player in the grocery industry, Metcash came under scrutiny from the ACCC during the recent Grocery Price Inquiry, but Chief Executive Andrew Reitzer was content with the outcome. Pleased with the “creeping acquisitions” proposals and “workably competitive”... ...Read more »