Higher second-quarter earnings has led US spice maker McCormick & Co. to report an increase in half-year profits.
McCormick reported a 3% rise in first-half net income to US$154.9m. In March, the company had booked a 3% decline in first-quarter earnings.
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The group also posted higher operating profit and sales in the first half of its financial year. It said better sales and cost savings had offset increased raw material costs and marketing expenditure.
Acquistions boosted sales, although McCormick said “volume and product mix” helped revenues in the second quarter.
Click here for comment from McCormick’s senior management from its conference call with analysts in the US.
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