Milling & Baking News - March 25, 2008 - 52

International

Fifty Years of
Good Taste
Ip

IAWS Food North America profit soars 93%
DUBLIN, IRELAND - Operating
profit of the Food North America
segment of IAWS Group P.L.C. was
€22,377,000 ($34,346,000) in the six
months ended Jan. 31, up 93% from
€11,568,000 in the first half of fiscal
2007. Sales within the segment grew
to €229,614,000 ($352,525,000), up 58%
from €145,693,000.
"IAWS Group has had an excellent
start to 2008 with strong growth across
the entire business," said Owen Killian,
chief executive officer. "In an environment where food inflation has become
a reality and economic conditions for
consumers are changing, the Lifestyle
Food business continues to see strong
consumer demand across all channels
for its always fresh and convenient offering. Origin, of which IAWS Group
owns 71.4%, has also had an excellent

performance in the period, benefiting
substantially from a strong performance in agricultural markets."
IAWS said growth in North America
continued to be driven by product and
concept development as well as brand
awareness.
"The Lifestyle Food Group is the U.S.
category leader in freshly baked cookies
and freshly baked artisan bread," IAWS
said. "The group has 5% market share
of the value-added bakery market with
substantial strength and depth in both
the food service and retail markets."
Companywide, IAWS reported sales
of €1,127,473,000 in the six months ended Jan. 31, up 35% from €838,456,000
in the previous year's six months. Operating profit of €72,968,000 for the six
months compared with €50,585,000 in
the previous year's six months. MBN

Kerry American ingredient sales rise 7% in year
TRALEE, IRELAND - Sales for the
American ingredients markets for the
Kerry Group, P.L.C. were €1,310 million ($1,979 million) for the year ended
Dec. 31, which represented 7% likefor-like growth.
Kerry said considerable progress was
achieved in broadening its "go-to-market" strategy to include all the company's food and beverage ingredients, bioscience and flavors businesses operating
in American markets. Specifically, Kerry
mentioned demand for natural, healthy
foods has spurred strong growth for its
ingredient systems in the ready-to-eat
cereal and nutrition sectors.
"While growth in the nutritional bar
market plateaued, synergies through
Kerry technologies led to satisfactory
growth in the category," the company
said. "In the bakery sector, assisted by
the Custom Industries acquisition completed in 2006, Kerry grew market share
through its sweet ingredient technologies, emulsifiers, enzymes and natural
high fiber ingredients. Sweet applications in the U.S. ice cream market were
adversely impacted by lower sectoral
sales as a result of the significant increase in dairy raw material prices."
Companywide, Tralee-based Kerry Group reported sales revenue of
€4,787,766, or like-for-like revenue
growth of 6.7%. Adjusted earnings per
share, before intangible amortization
and non-trading items, were €137.4,
up from €0.96 in fiscal 2006.
"Kerry achieved a good all-around
business performance and solid organic growth in 2007 notwithstanding the
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inflationary input cost environment,"
said Stan McCarthy, chief executive
for the Kerry Group.
The board recommended a final dividend of 13.9c per share, an increase of
11.2%. Together with the interim dividend of 6.1c per share, this raised the
total dividend for the year to 20c per
share, an increase of 11.1%. MBN

Greggs operating profit,
sales rise in year
LONDON - Greggs P.L.C., operator
of the U.K.'s largest chain of bakeries
specializing in sandwiches and other
bakery-fresh food, said sales rose 6.4%
to £586 million ($1,161 million) in the
52 weeks ended Dec. 29, up from £551
million in fiscal 2006. Operating profit
during the just-ended year totaled £47.7
million, up 13% from £42.2 million.
"Like every other business in our
sector, we are continuing to face substantial pressure from rises in the cost
of energy and in our key ingredients,
including flour, vegetable oils and
protein," said Derek Netherton, chairman. "We will work hard to mitigate
the impact of cost increases through
greater efficiency and, in receiving
higher costs in the market place, shall
take account of consumer confidence
and the competitive environment."
Greggs also announced that Mike
Darrington, managing director for
the past 24 years, will step down. The
company said it has a plan in place to
find a successor. MBN

ethel Bakery, known as The Cake
Place, celebrated its golden
anniversary in September, 2005.
Located in Bethel Park, Pennsylvania,
the bakery staged a week-long celebration that enjoyed great community
support. "We doubled our normal
customer count each day;" said John
Walsh, Bethel Bakery President.
"Bethel Bakery is beloved in our
community."
There was no doubt about where to
turn for an anniversary cake. Nearly
80 percent of Bethel Bakery's business
comes from cakes, including cupcakes,
dessert cakes and wedding cakes.
But Bethel is widely known for its
decorated cakes and signature French
Buttercream icing.
Family is at the heart of Bethel Bakery.
John, is the oldest of seven children
and took over from his parents, Morris
and Anna Walsh, in 1991. Both
Morris and Anna still find time to
visit the bakery. Anna loves serving
customers, and Morris, aside from
being a master baker, is a valuable
jack-of-all-trades. And with a 7,000square-foot facility, there is always
something to be repaired. John's sister,
Christine Makowski, oversees wedding
cake sales, and John's wife, Chris, contributes administratively. John admits
having four kids has kept his life balanced. "Staying involved in my kids
lives helps keep me from becoming
totally consumed by my business."
John believes that keeping quality
consistent, day-to-day and year-to-year
is one of their biggest challenges.
"Bethel Bakery has been an
International® Bakers Services'
customer for decades," he continued.
"We rely on International® flavors to
provide the consistency we require for
our ongoing success."
When you want consistent results,
turn to International® Bakers
Services. Contact us toll-free at (800)
345-7175, by fax at (574) 287-7161,
or in writing at 1902 North Sheridan
Ave., South Bend, Indiana 46628.
We have the flavors your customers
deserve.
Milling & Baking News

March 25, 2008 / 53

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Milling & Baking News - March 25, 2008

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