Food Business News - July 10, 2018 - 20
by 12%. Frank's RedHot is making regional gains in the United States as well. Total
distribution points increased by 8% in the
West and by 7% in the mid-South, he said.
Sales in McCormick & Co.'s consumer segment grew by 20% in the second
quarter to $785.4 million from $656.4
million. Operating income of $131.1
million was up 44% from $91.3 million.
Sales in the flavor solutions segment
grew by 18% to $541.9 million from $457.9
million. Operating income of $76.8 million was up 67% from $46 million.
In the six months ended May 31,
Nestle suspended from
sustainable palm oil group
McCormick & Co. generated net income
of $545.9 million, or $4.16 per share on
the common stock, which nearly tripled
net income of $193.5 million, or $1.55
per share, over the same time last year.
Six-month net sales increased 19% to
$2,564.4 million from $2,158 million. FBN
The suspension by
the R.S.P.O. affects all
KUALA LUMPUR, MALAYSIA - The Roundtable on Sustainable Palm
Oil has suspended the membership of Nestle S.A., citing problems with the company submitting progress reports. Nestle,
Vevey, Switzerland, failed to submit an Annual Communication on Progress (A.C.O.P.) report for 2016 and the report
for 2017 failed to include a time-bound plan, according to the
The R.S.P.O. also said Nestle has an unpaid overdue membership fee of €2,000.
"We share the R.S.P.O.'s ambition for improving the social
and environmental performance of the palm oil sector," a
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Food Business News
July 10, 2018