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Posted: March 27, 2006
McCormick & Co. Inc. (Sparks, MD) have announced a sales increase for the first quarter of 2006 of 1 percent. Improved vanilla margins and cost savings were cited as factors in gross profit margin reaching 39.2 percent (a rise of 1.4 percent over the same period 2005).
Of the results, McCormick & Co. president and CEO Robert Lawless said, “We are encouraged by the strong start to our 2006 fiscal year. Gross profit margin, operating income and net income were all ahead of plan. Both the consumer and industrial businesses benefited from the launch of new products. We have also taken pricing actions to offset the higher costs of packaging, energy and benefits.”