News for the baking industry
Oakville / CA. (prn) Tim Hortons Inc. announced its results for the first quarter 2009. «Sales growth in both our Canadian and U.S. markets was quite strong in the first quarter considering the challenging economic circumstances that continued to persist», said CEO Don Schroeder.
Northfield / IL. (kf) Kraft Foods Inc. reported first quarter 2009 results driven by strong gains from operations. Organic net revenue growth reflected the impact of cost-driven pricing actions taken in 2008, together with better-than-expected volume/mix.
Decatur / IL. (adm) Archer Daniels Midland Company (ADM) announced net earnings of eight million USD for the quarter ended March 31, 2009; including a 132 million USD non-cash after-tax charge. Net earnings for the quarter ended March 31, 2008 were 517 million USD. Net sales and other operating income decreased 21 percent to 14,8 billion USD.
Camden / NJ. (csc) Campbell Soup Company announced it has completed the acquisition of artisan bread maker Ecce Panis Inc., headquartered in East Brunswick, New Jersey. Campbell announced the agreement in early April.
Macquarie Park / AU. (gfl) Goodman Fielder Limited has announced that it will be shifting the strategic direction of the company and increasing its focus on the manufacturing and marketing of branded everyday foods.
Milan / IT. (bg) Barilla Holding SpA posted 2008 consolidated revenue of 4’535 million EUR, up 6,8 percent as compared to the previous year. Against a backdrop of a challenging worldwide market, the Group achieved a stable EBITDA of 444 million EUR, while operating margin declined from eleven percent to ten percent. Sales volume was also down slightly.
Oslo / NO. (np) The import of bread to Norway is at present four times as high a it was in the year 2000, and every fourth loaf of bread consumed in this country is now baked abroad, according to «The Norway Post».
Philadelphia / PA. (tb) Tasty Baking Company reported net sales of 46,2 million USD for its first quarter ended March 28, 2009 – a 7,8 percent increase from the 42,8 million USD reported for the Q1 last year.
Omaha / NE. (caf) ConAgra Foods Inc. announced the final results of its offer to purchase up to 609’337’000 USD principal amount of its 7,875 percent Senior Notes due 2010 and 6,75 percent Senior Notes due 2011.
Stockholm / SE. (lg) The results of the Swedish Lantmännen Group after financial items for the first quarter 2009 show a loss of 113 million Swedish Crowns (SEK), adjusted for items affecting comparability. The result for the corresponding period in 2008 was a profit of 70 million SEK.
