The Michigan-based cereal giant reported a fourth quarter loss of $84m – compared with a profit of $417m a year earlier – due to the looming Brexit and a ‘softness’ in its key US snacks and morning foods categories.
A 40% increase in operating profits for its chocolate and confectionery fats business unit helped AAK to 'record high' results in Q2, while the firm continues its expansion with a deal to buy Turkish oil brand Frita.
Norwegian group Orkla has expressed interest in takeovers beyond
its $1.76 billion bid for aluminium packaging manufacturer Elkem
after it reported a stronger than expected 25 per cent rise in
fourth quarter-core earnings.
API, the UK-based packaging materials provider, has announced that
for the full financial year, ending 30 September 2002, the group
has returned to an operating profit, after considerable losses in
the previous year.