24.03.2015 - McCormick & Co. was negatively affected by the strengthening of the dollar
The company McCormick & Co. declared income fall by 15% due to one-time charge and the negative impact of the strong US dollar. This fiscal year the company plans to increase sales by 4-6%, but this figure excludes the impact of foreign exchange factor on the company's revenue. For the quarter that ended in February, the company received 70.5 million profit, against 82.5 million in the same period last year. We expect modest growth in the company's shares this year by 6-9%, and do not recommend buying them in the medium term.