Food Business News - June 21, 2011 - (Page 46)

Saputo fiscal year earnings rise 18% MONTREAL — The dairy processing company Saputo, Inc. saw its earnings rise 18% during fiscal 2011. Net income in the year ended March 31 totaled C$451,119,000 ($463,274,391), equal to C$2.19 per share on the common stock, up from C$382,714,000, or C$1.85 per share, in fiscal 2010. Sales for the year were C$6,025,470,000 ($6,187,692,304), up 4% from C$5,810,582,000 during fiscal 2010. Earnings before interest, taxes, deductions and amortization (EBITDA) in the company’s Canadian, European and Argentinean dairy products sector increased 7% to $C490.1 million compared with fiscal year 2010. The EBITDA for the U.S. dairy products sector increased 32% to C$287.4 million. Looking ahead to fiscal 2012, Lino Saputo, president and chief executive officer, outlined the market situations th ’ it the company’s b i business units are experiencing in a conference call with financial analysts on June 7. In Europe, for example, he said he anticipates fiscal 2012 will continue to be a challenging year with respect to obtaining milk supply at prices competitive with the selling price of cheese. “In Argentina, we will seek further volume growth in both domestic and export markets,” Mr. Saputo said. “We will focus on mitigating the increasing cost of milk as raw material, while remaining competitive with the selling price in the export market. “In the U.S., on March 25, 2011, we completed the DCI acquisition. This strategic endeavor will allow us to further enhance our presence in the retail segment, by expanding our product offering, and fulfilling customers’ increasing demand for specialty cheeses. In fiscal 2012, the division will further evaluate these operations to seek additional synergies. As well, we are now serving our West coast customers directly through one of our California facilities, instead of using third-party warehousing. “The grocery products sector is focused on increasing sales volume in the snack cake and frozen categories. We plan to take advantage of the extended shelf life of several products, which should improve the flexibility required to expand distribution, and we will maintain our 46 FOODBUSINESS NEWS ® June 21, 2011

Table of Contents for the Digital Edition of Food Business News - June 21, 2011

Food Business News - June 21, 2011
C.D.C. report fi nds increase in salmonella infections
General Mills sees ‘robust’ growth opportunities in global yogurt category
Following Jimmy
Web Contents
Editorial - German E.coli outbreak underscores need to fund F.S.M.A.
ConAgra acquires Marie Callender’s trademarks
Kraft investing to eradicate malnutrition
Perkins & Marie Callender’s fi les for bankruptcy
Snack food sales reach $64 billion in 2010, may top $77 billion by 2015
Recession seen triggering sharp drop in food product introductions
Cargill opens Latin American innovation center
John Bilbrey to helm at Hershey
ICL Performance to acquire Cosmocel Quimica
Sugar bull
Smithfield terminates Campofrio bid
Omega-3 food, beverage market grows 11%
Roark Capital ups presence in food industry
Calavo earnings decline due to higher costs
Mountaire Farms acquiring bankrupt poultry company
Diamond Foods returns to profi tability in third quarter
Nestle water efforts recognized
C.D.C. report points to increase in salmonella infections
Consumers await full impact of higher food prices
A difficult disappearing act
Innovation honored by the I.F.T.
Mintel: Functional foods ‘on life support’
Allergen labeling guidance needed
Creating a defi nition of sustainable nutrition
German E. coli outbreak may lead to changes
Chronic inflammation: The next opportunity?
ConAgra Mills unveils food safety system for flour
Finding fiber everywhere
Spicy fl avors moving beyond heat
Dairy Business News
Commission clears Lactalis acquisition of Parmalat
New texture system replaces milk fat in dairy products
Researchers target sodium redution in cheese
General Mills sees ‘robust’ growth opportunities in global yogurt category
Saputo fiscal year earnings rise 18%
New Danisco system targets artisan ice cream
Researchers target sodium reduction in cheese
Single-serve licensing
Quiznos adds three concepts to menu
Flax USA introduces Flaxmilk
Johnsonville Sausage adds chicken varieties
General Mills adds brownies to Fiber One line
Farley’s & Sathers updates Tree Top line
Ingredient Market Trends
Senate vote to end ethanol support seen as symbolic
Ingredient Markets
New container may hold two compatible products
Solbar names president of U.S. business
Sensient launches naturally-sourced colors in dry state
Comax develops fl avors for energy drinks
Puratos launches bake-stable chocolate fi llings
DSM completes U.S. innovation center
Sea salt assists in sodium reduction
Ad Index
Food Business in the News

Food Business News - June 21, 2011