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McCormick Q1 Sales Up 2%; Consumer Business Booming in China

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McCormick, which recently acquired Drogheria & Alimentari and Brand Aromatics, said its first-quarter sales rose 2% to $390.1 million from a year ago and it continues to expect sales growth of 4% to 6% for full-year 2015 in constant currency.

Net income fell to $70.5 million during the quarter from $82.5 million a year earlier, including special charges. In its U.S. consumer business, McCormick is introducing new products including a re-launch of its entire gourmet line and said it has plans underway for a strong grilling campaign.

McCormick’s consumer business in China continued a double-digit rate of growth, with an 18% sales increase. Industrial business sales grew with product innovation and increased demand for snack seasonings. McCormick also posted strong growth with quick service restaurants in Europe, Middle East and Africa (EMEA) and showed improvement in quick service restaurants in China.

Click here to view the entire earnings release.

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