USA: McCormick reports record profit and sales for fiscal 2000
McCormick & Company, Incorporated (NYSE: MKC), yesterday reported record sales and earnings per share for the fourth quarter and fiscal 2000. Earnings per share for the year ended November 30, 2000 were $1.98 compared to $1.43 for 1999. Excluding special charges and an accounting change, earnings per share increased 18% to $1.99 from $1.69. Sales for fiscal year 2000 increased 6% to $2.1 billion. Excluding foreign exchange and the August 31 acquisition of Ducros, sales increased 4%. Each of the Company's three business segments -- consumer, industrial and packaging -- contributed to this sales growth. Gross profit margin ended the year at 37.9% versus 35.7% in 1999. This was accomplished with stronger sales growth in the consumer business which has a higher margin, cost reduction efforts across all business segments, the shift to more value-added, higher margin products within the industrial business and the addition of the Ducros business. McCormick's unconsolidated businesses grew sales 15% and contributed income of $18.2 million, an increase of 36% versus 1999.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Wessanen's move for Spain's Biogran - analysis
- The key questions for digital strategists in 2017
- Unilever 2016 investor day - the top takeaways
- Whole Foods, Aldi, M&S - retail round-up, Nov 2016
- Burger King, Jollibee: foodservice focus, Nov 2016
- General Mills jobs to go in business revamp
- Verlinvest, China Resources invest in Oatly
- Hain Celestial appoints Nestle executive as US COO
- Chobani COO Burns to leave yogurt firm
- Tyson sets up US$150m investment fund
- How Brands Are Making Our Food Healthier
- Confectionery North America (NAFTA) Industry Guide_2016
- Processed Snacks (Savory Snacks) Market in the United States - Outlook to 2020: Market Size, Growth and Forecast Analytics
- Global Dried Processed Food Market 2016-2020
- Frozen Food Production in the US - Industry Market Research Report