Pioneer Foods signals higher profit of upto 44% for the first half

SOUTH AFRICA - The South African packaged goods company Pioneer Foods expects half year operating profit to increase 44% while headline earnings to go up 32% despite of a decline in revenue. Sales volume increased, while some of its main brands recorded a higher market share, others remained fairly stable promising a better first-half performance…

Pick n Pay reports 7% growth in net profit as a result of cost-cutting initiatives

SOUTH AFRICA - Pick n’ Pay, the second largest supermarket chain store in South Africa has reported almost 7% growth in net profit as a reward from cost-cutting programme and a steady 5% increase in sales, reported BusinessDay from a statement. “The group’s muted turnover growth reflects the pressure of an exceedingly challenging trading environment,…

Costa Coffee to recycle 500m disposable cups yearly by 2020

UK - Costa Coffee, the British coffee company has made a commitment to recycle the same volume of disposable cups as it puts onto the market, half a billion every year by 2020. To achieve this, Costa will pay coffee cups collectors a subsidy to enhance their collection then send them to paper mills where…

Renaissance BioScience partners with Mitacs for US$1.44m research project

CANADA - Renaissance BioScience, a global leader in proprietary yeast-based technology solutions has announced a US$1.44 million research and development project in partnership with Mitacs, a research and training organisation. The project, equally funded by the two companies supports the development of next-generation, systematic tools and methods for expanding, screening and selecting biodiversity in non-GMO…

Oman Flour Mills’ CFO to resign in May

ASIA - Oman Flour Mills has announced that its Chief Financial Officer, Salim Khairulla will be leaving the company Mid-May after tendering resignation citing personal reasons. Khairulla was appointed an interim Chief Executive Officer for Oman after its then CEO, Ali Habaj stepped down to join Oman Cables Industry at the end of June. He…

EU bans ‘dual food’ to restrict sale of low quality food

EU - The European Union has issued a directive to ban ‘dual food’ to tackle the issue of known brands selling its food products of lower quality in some markets in the EU. The commission is set to provide a methodology for testing multinational brands to help identify the real culprits when they try to…

Valio net sales jump 4.3% despite challenging market

FINLAND - Valio, the Finnish dairy manufacturer closed the 2017 financial year with 4.3% increase in net sales to US$2.10billion for the group after being able to pay the co-operatives a steady milk price despite unfavourable conditions in some of the markets. Apart from entering new consumer markets, Valio was able to introduce more than…

Arla introduces cost-cutting program, ‘Calcium’ to save 400m euros

DENMARK - Arla has unveiled a new program, ‘Calcium’, a transformative cost-cutting initiative which it said will enhance efficiency, thus saving more than US$492 million for the next three years. Based on Good Growth 2020 Arla strategy that aims to create value for farmer owners, the company remains committed to strong sustainable growth as it…

Arytza appoints former Unilever executive as CEO for Europe

SWITZERLAND - Arytza, the Swiss-Irish food group announced it has appointed Gregory Sklikas, former executive at Unilever and FrieslandCampina as new CEO for Europe effective May 2018. Gregory will succeed Dermot Murphy who’s stepping down, having served in the position for 20 years. He spent his career at Unilever for 14 years and 11 years…

JBS to reduce greenhouse gas emmissions by 20% by 2020

USA - JBS USA,a leading processor of beef, pork and lamb in the U.S, has laid down its 2020 Sustainability goals, targeting to reduce its greenhouse gas emmissions by 20%, reducing water use by 10%, natural gas use by 20%, electricity use by 12%. Releasing its 2017 sustainability report, the company said it was on…