USA: Dean Foods files for bankruptcy
Dean Foods, the troubled US dairy firm, has announced it has filed for bankruptcy protection amid financial difficulties. The firm, which is the US’s leading milk processor, said it and most of its subsidiaries had initiated voluntary Chapter 11 reorganization proceedings, adding that it intended to use the process to support its ongoing business operations and address […]
Australia: Murray Goulburn records A$31.9 million loss
Murray Goulburn, Australia’s largest dairy foods company, has posted a loss of A$31.9 million ($24.5 million) for the first half of its financial year. The firm booked 14.8% less revenue compared to the same period a year ago, attributed to lower supplies, production cuts on farms and adverse seasonal conditions. According to Murray Goulburn CEO […]
Germany: Henkel toasts “record” sales and earnings
Henkel, the German household and personal care giant, has announced a year of “record” sales and earnings as it unveiled its results for 2016. The Dusseldorf-based firm posted overall sales growth of 3.5% (or 3.1% on an organic basis) to end the year with €18.714 billion ($19.79 billion) revenue. Adjusted for foreign exchange effects, sales […]
USA: PepsiCo reports results in 2016
PepsiCo, the global snacks and soft drinks giant, has announced its results for the fourth quarter and full-year 2016, with an increase in annual revenue rose of 5% to $19.52 billion. By region, in North America the Frito-Lay group rose 3% while the beverage unit saw organic growth of 2%. In Latin America, organic growth in […]
Denmark: Arla to invest €335 million
Denmark-based dairy specialist Arla Foods has revealed that it is expecting to invest €335 million ($361 million) in its production sites around the world. The plan has been made as part of the company’s global strategy of making Arla a household brand by 2020, as well as increasing revenue by almost a third. According to […]
Germany: Beiersdorf reports growth in 2016
Beiersdorf, the German health & beauty firm behind the Nivea brand, has announced that it has “continued on its sustainable, profitable growth path” in 2016, with preliminary annual results showing organic sales rising 3.2% on 2015. The growth was achieved in what the company described as “difficult political and economic conditions in some countries and […]
Germany: Rossmann to open a further 250 stores
Rossmann, the German personal and household care retailer, has announced plans to open a further 250 stores in 2017 with an investment of around €225 million ($235 million). The plans foresee 110 new locations for the German market, where Rossmann’s network of shops stood at 2,055 as of the end of 2016, figures from the company […]
USA: P&G posts decline in annual net sales
P&G, the multinational healthcare and household firm, has reported earnings of $65.3 billion, a decrease of 8% versus the prior year, for the financial year ending 30th June 2016. The US firm reported a negative six percentage point impact from foreign exchange and a negative two percent from the combined impacts of Venezuela and minor brand divestitures. […]
UK: Diageo reports organic volume and net sales growth
Diageo, the leading spirits firm, has announced its preliminary results for the financial year ending 30th June 2016, showing net sales and volume up on an organic basis compared to the previous year. Overall, net sales declined in absolute terms from £10.813 billion ($14.25 billion) to £10.485 billion ($13.82 billion), reflecting Diageo’s disposal of the Gleneagles and […]
Germany: Dr. Oetker reports “solid” results for 2015
Dr. Oetker, the Germany-based multinational food producer, described its performance as “solid” as it released its trading statements for the past financial year. Total revenues for the group increased to €2.37 billion ($2.72 billion), or 1.4% on an organic basis, excluding consolidation and currency effects. This same underlying growth figure of 1.4% applied to both […]