Warren Ackerman News
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Associated British Foods Plc, the U.K. owner of Twinings tea and Ovaltine malt drink, reported a 26 percent gain in first-half profit, beating some estimates, driven by the growth of the Primark budget-fashion chain.
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Associated British Foods Plc, the owner of the Primark discount-clothing chain, fell the most in almost nine months after Credit Suisse Group AG said it’s unlikely Primark’s profit growth can continue at the pace seen in the first half.
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Danone, the owner of Evian bottled- water and Activia yogurt, rose the most in almost three years in Paris trading after fourth-quarter sales beat estimates and the company announced plans to cut 900 jobs in Europe.
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Nestle SA’s sales growth may trail that of Danone for a second year in 2011 as its smaller French rival benefits from a greater concentration on healthy food and emerging markets such as Russia and China, analysts said.
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Nestle SA has found something even better than single-serve coffee costing twice as much as ground java: a version that costs eight times as much.
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Nestle SA said it expects 2013 to be as challenging as last year, when sales missed analysts’ estimates on a slowdown in emerging markets, where the world’s largest food company makes more than 40 percent of its revenue.
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Danone, the world’s biggest yogurt maker, reported third-quarter revenue that missed estimates as declines in Spain and Greece caused the weakest growth in sales of dairy products in more than three years.
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Unilever , the world’s second- biggest consumer products maker, reported third-quarter volume growth that beat estimates as customers bought more deodorants and ice cream in western Europe.
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Nestle SA rules the high-end coffee market in Europe with Nespresso capsules. Green Mountain Coffee Roasters Inc. dominates the U.S., leaving China as the biggest land grab for premium single-serve coffee.
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Nestle SA, the world’s biggest food company, lost court rulings over attempts to stop companies from selling rival capsules compatible with Nespresso machines in Germany.
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