US: McCormick lays down 2011 sales, earnings targets
By: just-food.com | 13 April 2010
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McCormick sees EPS growth accelerating in 2011 |
Spice giant McCormick & Co. today (13 April) told investors that it expects to book earnings growth of up to 11% from 2011 onwards.
The company, which reported a 10% rise in earnings per share during its 2009/10 fiscal year, set down the improved target for the year to the end of November in a meeting with analysts today.
McCormick is targeting a 9 to 11% increase in earnings per share in "2011 and beyond", it said. The company forecast sales growth of 4-6%.
President and CEO Alan Wilson said the company had created a "unique position" in the food industry.
"Simply put, we flavor the world's food. And we do it better than anyone else," Wilson said.
Sectors: Canned food, Cereal, Commodities & ingredients, Condiments, dressings & sauces, Dried foods, Financials, World foods
Companies: McCormick & Co.
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