30.09.2016 - Sales of McCormick & Co. increased by 3%
The company McCormick & Co. increased its forecast for profit growth this year due to the improvement in quarterly results and sales growth. Thus, in the third quarter of the fiscal year, the profit totaled 127.7 million dollars against 97.6 million previously. Sales rose by 3% to 1.09 billion dollars, in line with market forecasts. The companies also announced that they intend to reduce spending by 400 million dollars over the next 4 years. According to our estimates, the growth of quotations will be 18-20% in the medium term, but in the coming months, we will see a decline in prices.