business news
Hochdorf to face huge losses in first half of 2019
Hochdorf in Switzerland is facing a crisis, as the 51% subsidiary Pharmalys is resulting in a massive fall in profits.
Arla sees 2% revenue growth in first half of 2019
Total revenue for the Arla Group grew by 2.0% in the first half of 2019 to €5.2bn, compared to €5.1bn for the same period in 2018, following “rare stability in the otherwise volatile global dairy market”.
British cheese stocked in China’s first Costco
Costco, the membership warehouse club retailer, has opened its first store in China and British cheese is set to be part of its food offering.
Fonterra forecasts losses of €390million
Fonterra has confirmed it forecasts losses of NZ$590-675 million (€342-390m) for the 2019 financial year (end 31 July 2019) ahead of full results being released in September.
2019 Global Dairy Top 20
The latest annual Rabobank survey of the world’s largest dairy companies highlights the giants of one of the world’s most valuable food sectors.
Emmi buys Italian desserts firm
Swiss dairy group Emmi is expanding and strengthening its existing dessert network in Italy with the acquisition of Pasticceria Quadrifoglio.
Multivac CEO to step down
After more than 18 years as CEO of the Multivac Group, Hans-Joachim Boekstegers will hand over the business on 1 January 2020 to his director colleagues, Christian Traumann and Guido Spix.
First Milk continues to strengthen
Dairy processor, First Milk has published successful year-end results, reporting “stable financial performance”.
Müller expands yogurt plant in UK
A £50 million (€55.1m) expansion project to build a chilled yogurt manufacturing facility capable of producing 500 million pots each year in Telford, UK has been completed by Müller UK.
Froneri acquires Noga Ice Creams
Froneri will acquire Noga Ice Creams, part of the Nestlé-owned business Osem Group.
Chr. Hansen delivers sold results but reduces outlook
Chr. Hansen delivered a solid financial result of 9% organic growth for the first nine months of 2018/19, but has adjusted its full-year organic growth outlook from 9-11% down to 7-8%.
Fonterra makes profit from foodspring sale
Mars has signed an agreement to purchase a majority shareholding in German targeted nutrition business, foodspring.
Müller confirms 200 job losses at Foston dairy
Müller Milk & Ingredients (MMI) has confirmed that it is to wind down production at its Foston dairy in Derbyshire with the potential loss of 223 permanent posts.
Froneri reports solid revenue growth
Ice Cream company, Froneri has posted solid group revenue up 3.6% to €2.6bn (2017: €2.5bn) for the year ended 31 December 2018.