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Dated: 1 September 2008
Frutarom has reported an income of $132 million in the second quarter of 2008, reflecting growth of 44.6% compared with the same quarter in 2007 (growth of 36% excluding the influence of the revaluation of the European currencies compared with the US dollar). In the first half of 2008,Frutarom's sales totaled $254.6 million– a growth of 47.8% compared with the parallel quarter in 2007. Excluding the influence of the strengthening European currencies compared with the dollar, the sales growth totaled 39%.
Organic growth factors are increased sales in flavors produced and sold by the flavors
division, and growth in the sale of unique ingredients, mainly natural, produced and sold by the fine ingredients division. Other growth factors include the acquisitions of Gewurzmuller, Abaco, Raychan, Adumim and Rad during the second half of 2007 and their merger with Frutarom's global activity; the synergy and cross selling opportunities between Frutarom's divisions, its customers and products; the strengthening of the West against the US dollar; and growth in Frutarom's trade and marketing activity in Israel.
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Unilever's top executives had to baracade themselves in a private dining room at the Taj Mahal hotel in Mumbai last week to prevent themselves from being shot at by terrorists. They then had to smash a window and make a dramatic escape, according to a report in The Times.
A year after unveiling its e-commerce site, Meijer will now begin offering grocery and dry good items bought in bulk from www.meijer.com. Unlike existing online grocery services that charge a delivery fee, Meijer will offer free shipping for orders of US$150 and more.
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thanks to strong international performance.
Carrefour will be opening two new stores in Romania. The French retailer entered the supermarket segment in the country by acquiring the 21-store Artima chain last year for €55 million. By the end of this year, 20 Artima stores will be rebranded as Carrefour Express.
Ten Russian food retail companies have asked state banks for a total of €1.4 billion in loans to help survive the global financial crisis. The companies include X5 Retail Group, Magnit, Dixy and Seventh Continent, as well as smaller rivals Lenta, Kopeika, O'key, Holiday, Mosmart and Victoria.
The Rewe Group has been given the go-ahead to takeover 328 Plus stores from Tengelmann in Germany. The German anti-trust body, Bundeskartellamt, has unconditionally approved the acquisition by the country's second-largest food retailer.
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