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glanbia profits up as international ingredients business surges
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irish food giant glanbia has turned in promising half year results with net earnings rising 26 per cent and the us food ingredients and nutritional products divisions performing strongly. glanbia predicted full-year earnings would rise 15 per cent year-on-year and analysts praised the strength of the results amid negative currency changes and sharply rising input costs such as energy and milk. net earnings for the half year jumped 16.5 per cent from €48.5m to €56.5m. the announcement follows its €213 million purchase this week of us supplements manufacturer, optimum nutrition. sales across all its divisions, which include cheese and dairy products as well as dairy-based ingredients, were up 6.3 per cent at €1.106bn. time lag “while organic growth remains strong in food ingredients usa and nutritionals, the performance of food ingredients ireland in the second half will be reduced relative to the second half of 2007, as global dairy market volatility has created a time lag in balancing input costs and market returns,” said managing director, john maloney. the company’s international operations and joint ventures reported good results. international business contributed 68 pert cent of its operating profit and rose 22 per cent from €28.4m to €34.6m. international joint ventures included cheese manufacturers in the us and the uk and a consumer products joint venture in nigeria. glanbia is europe’s biggest mozzarella supplier for the lucrative pizza market. stabilisation the company, including its functional ingredients division, has benefited from a stabilisation of the milk market that saw prices jump significantly last year. "global dairy markets went to a spike in pricing in 2007, have come off that and come back to more normalised pricing which is still above the average of previous periods," moloney told reuters. "that's not unexpected and it's not unhelpful." of the performance of its nutritionals division the company said: “revenues, profits and margins increased for nutritionals with this business achieving good organic growth. nutritionals also benefited from its innovation programme which is delivering products and solutions into the sports nutrition, health and wellness and weight management sectors in the usa, europe and asia.” it was expected nutritionals would “continue to perform strongly” , and make a “growing contribution to the group overall.” the group’s global nutritionals business produces whey proteins, premix solutions and other nutritional ingredients for use by food and beverage companies. across-the-board, glanbia said it was, “confident of a good overall performance and the group believes it will deliver double digit earnings growth, in line with market expectations.” glanbia’s food ingredients division produces cheese, butter, casein and protein ingredients in ireland and the us.
Source :Food Ingredients Food Science - Additives, Flavours, Starch
Date :
28
August
2008
Category :
Codiments,Desserts,food additi
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a difficult funding climate resulted in more licensing and joint venture transactions than outright acquisitions in the health and nutrition sector in 2009, according to a new report focusing on m&a trends in the industry. the latest report on m&a activity in the health and nutrition sector from the us-based consultants, the jh chapman group, claims that a substantial increase in licensing and joint ventures from 21 in 2008 to 53 in 2009 is reflective of on-going interest for growth via unique technology and knowhow and lack of access to financing.
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kerry has reported continued development of its food ingredients businesses despite 2006 being a 'difficult' year for the food industry – and its nutrition and functional food ingredient systems played no small part. the global group, which has its headquarters in ireland, has reported overall sales of €4.6bn for the year ended december 31 – an increase of five per cent on the previous year.
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cost recovery and the on-going development of a stream-lined, customer-oriented working method led kerry's ingredients division towards a first half 2007, on both sides of the atlantic. the group, whose food ingredients division encompasses application-specific ingredients, flavours and bio-science businesses, reported total revenue of €2.33bn in the six months ended june 30 2007, representing an up-swing of 5.
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nutraingredients examines the omega-3 marketplace in the final instalment of a series that has scanned the scientific, regulatory and supply issues surrounding an ingredient that would appear to have everything. estimations vary as widely as the analysis, depending on which researcher or pundit you speak to, but omega-3 is unlikely to fade far from the public or business imagination because it has a sound grounding that is not possessed by all functional offerings: solid and voluminous scientific backing for health benefits ranging from heart and brain health to maternal and infant health, skin, joint and immune health and more a high level of public awareness and acceptance formulation diversity that means most foods and beverages are available for fortification with these facts banked, omega-3 has boomed and suppliers report buoyant sales to supplement manufacturers, food and beverage makers.
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a new review taking in animal, human populations, and clinical trials supports the potential role of soy protein to reduce cholesterol levels, and aid weight loss. according to the review, published recently in obesity reviews , the ingredients also have the added benefits of boosting bone health and aiding overall cardiovascular health. "overall, the current data suggest that soyfoods are as good as other protein sources for promoting weight loss and there is a suggestive body of evidence that soyfoods may confer additional benefits, but results must be carefully interpreted and additional evidence is needed before making firm conclusions concerning soyfoods and weight loss," wrote lead author mark cope from the university of alabama at birmingham.
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the rise in health and wellness, a 'sea of change' in the food industry, is creating challenges for formulators, but hydrocolloid companies can offer solutions, says cp kelco. "we see health and wellness creeping in to every aspect of the food industry," dr. steve bodicoat, marketing and innovations director for cp kelco, told foodnavigator.com at the recent fie in london.
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a range of development projects, from functional dairy proteins to cheddar cheese, will benefit from a multi-million euro investment in ireland's dairy industry, the country's government has announced. more than €114m of government money will be given to 19 different development projects across ireland's dairy industry as part of the government's agrivision 2015 action plan.
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Coca.Cola
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PEPSI
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Mcdonald
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Nestle
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Mars
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Baskin & Robins
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Nutrika
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Mumika
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Chika
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