Innscor Africa’s quarterly revenue down as bird flu hits income

ZIMBABWE - Diversified industrial conglomerate Innscor Africa Limited’s revenue for the first quarter of financial year 2018 was marginally lower compared to same period in the prior year on the back of a mixed performance across subsidiaries. Group chief officer Julian Schonken told shareholders at the annual general meeting yesterday that the group’s cost control…

Streamlined Nampak packs new zest, reports 3% rise in profits

SOUTH AFRICA - Nampak, Africa’s largest packaging manufacturer, posted a 3 percent hike in group trading profit, helped by the strong performance of the metals division in South Africa and Angola in the year ended September. Nampak chief executive André de Ruyter said in a statement yesterday that the JSE company's performance had been resilient…

Frutarom reports 19.6% increase in Q3 sales, ups 2020 targets

ISRAEL - Frutarom, a flavors and fragrances specialist, has posted third-quarter earnings which show 19.6% sales increase to a record US$358.8 million in, prompting the company to raise its 2020 sales target to US$2.25 billion. According to the company, there was a constant currency pro-forma growth of 6%, while the sales from core activities grew…

Pioneer Foods’ full-year profit plunges on lagging effects of drought

SOUTH AFRICA - Pioneer Foods sees a recovery in the 2018 financial year after disappointing results in the year to September. The food and beverage manufacturer attributed its negative performance to constrained trading conditions, price hikes and an unfavourable procurement position in the first half of the financial year, following the severe drought that hit…

Lower feed costs boost Astral Food’s earnings

SOUTH AFRICA - Astral Foods has raised its final dividend by a hefty 775% to R8.75, after the poultry producer nearly doubled its full-year headline profit. Lower input costs benefited the company tremendously in the year to end-September, as the effect of the drought in the summer rainfall areas abated. Maize and soya are primary…

Glanbia reports strong performance, revenue increase of 9%

IRELAND - Global nutrition group Glanbia has highlighted strong performances from Glanbia Performance Nutrition and Glanbia Nutritionals in its Interim Management Statement for the nine-month period, highlighting a 9% increase in revenues for Glanbia Performance Nutrition and a 4.6% revenue growth for Glanbia Nutritionals. According to NutritionInsight, Glanbia Performance Nutrition delivered what is described by…

Dairy Crest reports 16% revenue increase in half-year results

UNITED KINGDOM – UK dairy company Dairy Crest has reported its fiscal half year 2017/18 results, with an increase of 16% to revenue of US$258.5 million from the same period last year, as the company experiences “encouraging first half.” According to FoodBev, the cheesemaker also announced that Cathedral City had volume growth of 10% with…

AFDIS registers double-digit growth, eyes plant upgrade

ZIMBABWE -
 Spirits and wine maker, African Distillers Limited (Afdis), says it will embark on plant and equipment upgrade to enhance production as the firm maintains a double-digit growth in volumes. AFDIS managing director Cecil Gombera, told shareholders at the group’s annual general meeting yesterday that the firm was looking at ways of cushioning itself…