Hiestand: reports substantial organic growth in Q3
Lupfig / CH. (hag) The Swiss Hiestand Group has exceeded its growth targets in the first nine months of 2007. The targeted level of 700 million CHF in sales by the end of 2007 will be surpassed.
News for the baking industry
Lupfig / CH. (hag) The Swiss Hiestand Group has exceeded its growth targets in the first nine months of 2007. The targeted level of 700 million CHF in sales by the end of 2007 will be surpassed.
Dublin / IE. (ibba) Unprecedented international increases in wheat and flour prices are placing significant pressure on the bread baking sector, according to new figures published by the Irish Bread Bakers Association (IBBA).
Moscow / RU. (rbc) The Russian government is not planning any further increases in export duties on grain, the Russian Economy Minister Elvira Nabiullina says: «There is no need to do so at the moment. We are monitoring the situation».
Calabas Hills / CA. (cf) The Cheesecake Factory Inc. reported financial results for the third quarter of fiscal 2007, which ended on October 02. Total revenues increased 15,4 percent to 375,5 million USD from 325,3 million in the third quarter of fiscal 2006.
St. Louis / MO. (wib) Quick-casual restaurant chain Panera Bread Company does not expect fourth-quarter earnings to grow due to pressures on profit margins so far this year, the company says.
Kansas City / MO. (ibc) Interstate Bakeries Corporation (IBC) filed a motion with the U.S. Bankruptcy Court requesting authorization to enter into an agreement with Silver Point Finance LLC to provide the company with up to 400 million USD in exit financing upon IBC´s emergence from Chapter 11.
Mumbai / IN. (bi) Leading manufacturer of bakery products, Britannia Industries Ltd. registered a substantial rise of 2,29 times in net profit for the second quarter ended September 2007. During the quarter, the company saw a rise in net profit to 485 million INR from 212 million INR in the same quarter of the previous year. Earnings per share for the quarter jumped 2,29 times to 20,28 INR compared with the same quarter last ago.
Baku / AZ. (gov) State Committee for Management of State Property has announced investment competition to sell 60,76 percent of Gence-Deyirman (Ganja Mill). The Committee says that local and foreign investors may participate in the competition.
Copenhagen / DK. (das) Danisco A/S and Firmenich SA have entered a global strategic partnership that promises the food industry the combined benefits of their leading taste and texture expertise, including proactive innovation development.
Vevey / CH. (nsa) During the first nine months 2007, consolidated sales of the Nestle Group amounted to 78,7 billion CHF, an increase of plus nine percent over the comparable period of 2006. Real internal growth was strong at 4,5 percent and pricing added another 2,7 percent, resulting in an organic growth of 7,2 percent.