US spice maker McCormick said it achieved “excellent” financial results through the first half of 2010 and predicts “record results” for the remainder of the year.
For the six-months ended 31 May, operating income increased to US$148m from $139.1m in the prior year.
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Sales reached $906.2m compared to $855.7m in the comparable 2009 period.
Alan Wilson, chairman, president and CEO said: “McCormick has achieved excellent financial results through the first half of 2010. This level of performance demonstrates the effectiveness of our strategy and growth initiatives, particularly in an economic environment that remains challenging. As we look ahead to the second half of our fiscal year, we are well-positioned to deliver record results in 2010.”
In the second quarter, sales grew 5% to $452.7m from favourable currency exchange rates and higher volume and product mix.
Operating income increased to $68.2m from $65.1m in the prior year.
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By GlobalDataIn the consumer business, McCormick said it achieved a “solid” performance in the Americas and an 18% sales increase in China offset weakness in certain markets in Europe during the quarter.
