Food production revenue for the State of South Australia in 2010-2011 increased by almost a quarter from the previous year, achieving a record AU$13.7 billion in food industry revenue. The figures have been published on the State’s annual ‘Food Scorecard’, compiled by the SA government department, Primary Industries and Regions SA (PIRSA). The scorecard shows that food production has reached a record AU$4.36 billion compared to $3.5 billion in 2009-10 – an increase of 24 per cent. According... ...Read more »

Recently listed Australian fast food operator Collins Foods has announced a 1.2% drop in sales revenue for the first half of the 2011/12 financial year, up to 16 October 2011. Collins Foods, which was listed the Australian Securities Exchange in August 2011, operates 119 KFC outlets and 26 Sizzler restaurants, mostly in Queensland. Shares in the company fell by 24 per cent following the announcement, made on Wednesday 2 November 2011. The company reported an expected loss in Net Profit After Tax... ...Read more »

Lion, the Kirin-owned food and drinks company, has experienced challenging conditions and declining revenue across its businesses in Australia and New Zealand over the last six months, ending March 31 2011, according to its latest financial figures reported on August 5, 2011. The report shows declines in Lion’s beer, spirits and wine divisions in Australia and New Zealand, and in its dairy and drinks division: Beer, spirits and wine divisions in Australia and New Zealand delivered earnings before... ...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 »

Associated British Foods (ABF) said yesterday (8 July) that it remains on track to deliver “good earnings progress” for the full-year.Group revenue from continuing operations for the 40 weeks to 19 June was 14% ahead of the same period last year and in line with the growth reported at the half year, the firm said yesterday (8 June). The weakness of sterling continued to benefit the translation of sales from continuing businesses, which were 9% ahead at constant currency. Sugar revenues... ...Read more »

Kraft Foods Inc. on Friday reported strong first quarter 2010 results driven by good operating momentum in every geography. Volume/mix improved sequentially from the fourth quarter 2009 and contributed significantly to income growth and margin expansion for Kraft Foods’ base business. “Our first quarter results are early evidence of our future potential in combination with Cadbury,” said Irene Rosenfeld, Chairman and CEO. “We demonstrated strong momentum in our Kraft Foods’... ...Read more »

Fonterra, the world’s largest dairy exporter, today announced a further increase in the forecast payout to its farmer-shareholders for the current 2009/10 season as their confidence in higher dairy prices rises. The Co-operative’s forecast of the total payount amount will increase 95 cents to $6.05 per kgMS. The new forecast compares with an opening forecast for 2009/10 of $4.55 per kgMS and a revised forecast of $5.10 per kgMS announced on 22 September 2009 and is a sign of the rapid,... ...Read more »

Fonterra, the world’s largest dairy exporter, today reported a 9.6% rise in revenue for the first six months due to seasonal factors, a stronger contribution from regional consumer businesses and the lower NZ dollar. The latest half year covered the period August 2008 to January 2009 and included two additional high production months (December and January), distorting comparisons with the previous half year which went from June 2007 to November 2007, the company noted. Fonterra’s revenue... ...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 »

Cadbury has announced third quarter revenue growth of 6 per cent, in-line with expectations, as the caution of consumers fails to dampen their profit expectations. Australian results, dragged down by a 5% decline in beverage sales, were not as impressive. Cadbury reported a renewed focus on strengthening their global chocolate, gum and candy divisions and new initiatives in their Vision into Action (VIA) strategy. They will change their structure, with four regions to become seven; including Asia-Pacific... ...Read more »