McDonald’s Corp is surely singing its tag phrase “I’m Loving It”, after its third quarter profit topped analysts’ expectations. McDonald’s earnings soared 5.9% to US$1.26B or US$1.15 per share, up from US$1.19B or US$1.05 per share a year earlier. McDonald’s profits were aided by the launch of its new products and promotions which helped to [...]
Yesterday, Monsanto Co., the world’s largest seed producer, reported that it widened its fourth quarter net loss to US$233 million from US$ 172 million a year ago. Monsanto was affected by a fall-off in its herbicide segments, which eroded revenues. The herbicide business has been suffering from increased competition and price pressures, which has forced [...]
Yesterday, poultry producer Pilgrim’s Pride Corp struck a deal with Brazil’s beef giant JBS AG which would allow it to exit bankruptcy. The transaction will see JBS AG pay US$800M in cash, while taking a 64% stake in the chicken processor. Additionally, all of Pilgrim’s Pride Corp’s debt to creditors will be fully paid. This [...]
Despite consumers feeling the pinch of the recession, Burger King managed to raise its fourth quarter profits by 16% to US$58.9M. This was helped by a decline in food and paper prices, as well as the expansion of Burger King’s overseas franchise. In the quarter, Burger King opened an additional 338 international locations, as sales [...]
The JM Smucker Co. saw its earnings more than double on higher volumes as well as its acquisition of the Folgers coffee brand last year. For the quarter ended July 31, 2009, Smucker posted a profit of US$98.1M, versus $42.3M year-over-year, beating estimates. On releasing the results, Smucker affirmed its full-year EPS is likely to [...]
Yesterday, Nestle revealed a performance that didn’t leave investors hungry for more. Nestle, the world’s biggest food group, has announced that Net Income slipped 3% to CHF5.1B (US$4.7B) for the first half of 2009. This is Nestle’s first decline in profit in six years! While Nestle’s CEO said that he expects an improved performance for [...]
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