Spice maker McCormick & Co. has posted a leap in third-quarter profits on the back of rising sales from its consumer and B2B businesses.
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The US-based group booked a 39% jump in operating profit to US$88.9m for the three months to 31 August. The steep rise in earnings came as sales rose 8% to $716.2m.
Sales in Europe rose 12%, while turnover from McCormick’s Asia-Pacific business climbed 21%. Chairman and CEO Robert Lawless said: “We were pleased to achieve strong sales increases in both domestic and international markets. Despite higher material costs, our net income and earnings per share were on target.”
Sales in North America rose 6%.
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