Coca-Cola Amatil (CCA) has released its half-yearly financial results for the period ending July 1, 2011. The results show growth of CCA’s business with profits of $234.1 million, an increase of 5.5 per cent on the half-yearly result at this time last year. CCA’s Group Managing Director, Terry Davis said, “I believe that the operating performance in the first half has been solid given the business has had to manage external headwinds, as well as the cycling of a very strong first half result... ...Read more »

Ireland’s Kerry Group has lifted its target for volume growth from 2013 as the company set out its forecasts for its next five-year cycle. The company, which owns a variety of food businesses in Australia, set out a target yesterday for its annual like-for-like volumes to rise 3-5% between 2013 and 2017. The company’s current aim is for like-for-like volumes to climb by 2-4% a year but it expects that growth to accelerate. “We expect to achieve like-for-like volume growth of 3%... ...Read more »

Grocery distributor Metcash reported an increase in net income for 2010, which it attributed to the “steady performance” and “resilience” of its independent retail customers. The group said yesterday that net income rose 6.1% in the year ended 30 April to reach $241 million Revenue was up 7.4% to reach $12.5 billion, while wholesale revenue rose 7.4% to $12.36 billion. “We are pleased to once again announce another creditable result, particularly given the challenging... ...Read more »

US club store operator Costco has booked a jump in earnings for the first nine months of the year as strong sales gains boosted the group’s result. Net sales for the nine months to 8 May rose 13% to US$59.46bn, including sales from the group’s Mexican joint venture, which Costco began to consolidate into its financial results in fiscal 2011. Excluding this, comparable sales were up 9% in the period, the company said today (25 May). Costco also revealed that currency exchange and gas price... ...Read more »

Campbell Soup Co. has reversed a trend of downward earnings in its third quarter, booking an increase in profits as snack and international sales propelled gains. The US soup maker revealed today (23 May) that net earnings for the three months ended 1 May totalled US$187m, up from $168m in the comparable period of last year. Sales edged up 0.6% to $1.81bn in the period, as the company’s snacks and international units (including increased sales in Australia due to the high dollar and “solid... ...Read more »

Australia’s supermarket industry faces losing up to 40,000 jobs if the grocery war continues, according to Ritchies CEO Fred Harrison. “Continued hacking away at prices by Coles to gain a market advantage is threatening the jobs of thousands of workers – particularly young people and women, who make up the bulk of the people in the sector,” he said. Harrison said 65% of the cost of operating a supermarket was wages – and staff would be the first area to cut to maintain profitability. “You... ...Read more »

Japanese soy sauce maker Kikkoman Corp has booked falling annual profits as sales dipped and costs rose.The company last weekreported a 9.7% slump in net income to JPY7.77bn (US$96.5m) for the year to the end of March. Operating income fell 8.9% to JPY19.21bn. The lower profits were on the back of a dip in annual sales, which fell 0.8% to JPY283.46bn, as revenues from Kikkoman’s domestic and international food operations fell. The results were announced as Kikkoman said its board had drawn... ...Read more »

Italian dairy group Parmalat has reported a rise in first-quarter profits as sales were boosted by higher volumes in Australia and Venezeula, and the weakness of the euro. Parmalat, which in Australia produces Paul’s, Vaalia, PhysiCAL, Oak, Ice Break and Breaka, booked a net profit of EUR 50 million (A$66.74 million) for the three months to March, an increase of 3.1% on the year. In an earnings release that made little mention of the full takeover bid for the company from shareholder and French... ...Read more »

JBS, the Brazilian meat giant, has reported mixed first-quarter results, with the company’s net income and sales rising – but its EBITDA down on lower profits from its US chicken unit. The company, which owns JBS Swift Australia, this week booked a 47.9% increase in net income to BRL 147 million for the three months to the end of March. JBS’s operating income more than doubled at BRL 172.2 million (US$107.3m) as the company benefited from higher sales and lower finance costs. The... ...Read more »

Kerry Group, owner of the Croissant King and van den Bergh’s frozen bakery businesses in Australia, has claimed it continued its momentum during the first three months of 2011, with the Irish firm reporting “good volume growth”, despite raising its prices to tackle increased raw material costs. The ingredients, flavours and consumer foods group said today (10 May) that revenue rose 14.8% during the quarter ended 31 March. Like-for-like revenue was up by 10.5% and volumes grew 4.1%. Pricing... ...Read more »