McCormick reports record first quarter sales
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Manufacturing News, Source : TheManufacturer.com
Published : 23 Mar 2004 18:57
The world’s leading spice manufacturer, McCormick, reported record sales for the first quarter of 2004, the company announced today.
Sales for the quarter were $572 million, an increase of 18 percent from the same period in 2003. High volumes in Sparks, MD-based McCormick’s consumer and industrial businesses, as well as the June 2003 acquisition of Gretna, LA-based foods company Zatarain’s for $180 million, added to sales.
Consumer sales in the Americas were up a substantial 33 percent, while industrial sales in the Americas rose six percent.
McCormick was optimistic about prospects for the coming year. “With this momentum and the favorable foreign exchange environment, we expect to exceed our initial objective to increase sales seven to nine percent,” said Robert Lawless, McCormick's chairman, president and CEO, in a statement. “Sales growth is more likely to increase at a low double-digit rate.”
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