R&R Ice Cream has posted a 1.3% drop in sales for the first quarter of 2016 as its acquisition of Nestlé’s South Africa business, fluctuating exchange rates, and tough European trading conditions hit like-for-like performance.
Australia’s largest dairy cooperative Murray Goulburn (MG) has reviewed the expected performance of the business for the balance of FY16 and is dropping its farmgate milk price (FMP) by slightly more than 10%.
Italian dairy company Parmalat’s net revenue for the financial year ending December 31, 2015, rose from $6.08bn (€5.5bn) to $7.1bn (€6.4bn), however, profits fell from $228m (€205m) in 2014 to $164m (€147.6m).
Nutritional food manufacturer Glanbia has recorded double-digit growth for the sixth consecutive year, with earnings before interest, depreciation, tax and amortisation (EBITDA) up 10.5% to €271M (£214M) for the 52 weeks to January 2 2016.
DSM’s nutrition unit performed well with the Martek acquisition helping 13% sales growth, but the polymers and pharma faired worse, leaving the company with 3% overall growth, but a dipped EBITDA of €306m for the quarter.
Flavour and fragrance firm Givaudan’s first half net profits crashed by 40 per cent as raw material costs and record currency rates take their toll on the Swiss company, despite good local growth in its flavours businesses.
Double-digit growth in the beverage, savory and confectionery sectors helped International Flavors & Fragrances to achieve revenue of $714m in the first quarter of this year; nine per cent up on the same period of last year.