The latest financial news for 18 May 2012 includes Brazil Fast Food, Yum! Brands, Prestige Brands and Milk Link.
Brazil Fast Food
Brazil Fast Food Corp, the second largest fast-food restaurant chain in Brazil, has announced financial results for the first quarter 2012 ended 31 March 2012.
- System-wide sales totalled R$254.2m, up 15.0% from the first quarter 2011.
- Revenue totalled R$60.5m, up 10.2% from the first quarter 2011.
- Points of sale totalled 891 at 31 March 2012, up from 781 at the end of first quarter 2011.
- Ebitda was R$7.1m, up 7.3% from the first quarter 2011.
- Operating income increased 13.8% year-over-year to R$5.5m.
- Net income was R$3.4m, or R$0.42 per basic and diluted share.
The Yum! Brands Inc board of directors has declared a dividend of $0.285 per share of common stock. The quarterly dividend will be distributed 3 August 2012 to shareholders of record at the close of business on 13 July 2012.
- KFC introduces homegrown canola oil 17 MAY 2012 | Ingredients
- Yum! brings fuel-efficient cooking and kitchens to schools 17 JAN 2012 | CSR
Prestige Brands Holdings Inc has announced record results for the fourth quarter and fiscal year ended 31 March 2012.
Revenues for the fourth fiscal quarter were $134.0m, $37.6m or 39.1% above the prior year comparable quarter's results of $96.4m. Organic revenues for the fourth fiscal quarter grew $7.2m, or 7.5% over the prior year comparable quarter.
Revenues from the Company's nine legacy core OTC brands increased $8.2m or 14.0% over the prior year comparable quarter. These brands are Chloraseptic, Clear Eyes, Compound W, Little Remedies, The Doctor's NightGuard, Efferdent, PediaCare, Dramamine and Luden's.
Revenues from two months of ownership of the GSK Brands accounted for $30.4m of the increase. The GSK Brands' acquisition increases the core brand group by five. These brands are Beano, BC and Goody's, and Debrox in the US, and Gaviscon in Canada.
Milk Link has announced details of a solid financial and trading performance over the last year. Audited financial highlights for the year ended 31 March 2012 include:
- Group turnover up £42m to £628m (+7.1%).
- Turnover per litre up from 38.6ppl to 41.9ppl (+8.5%).
- An increase in comparable Ebitda of £4.5m to £33.7m (+ 15.4%). It should be noted that the 2010/11 reported Ebitda was £34.4m, which included £5.1m of Member ‘levy’. However, from 1 April 2011, the ‘levy’ ended for the majority of Milk Link Members and therefore the comparative Ebitda was £29.2m.
- Comparable Profit Before Tax up by £4.3m to £14.3m (+42.7%).
- An increase in the Member milk price during the year of an average 2.85ppl. This meant that in comparison to the previous year, Milk Link generated and paid out an additional £33.7m to its Members for their milk.
- An increase in Member Processing Interest Payment relating to the 2011/12 financial year of £2m to £5.95m equating to a 12.8% return on Members’ Qualifying Loan balances.
- Cumulative Reserves increased by £3.4m to £13.5m (+34.2%).
- A slight rise in the ratio of third party borrowings to Members’ Funds (gearing) from 1.18 to 1.19.
- An increase in Group borrowings of £2.1m to £82m. However, at the same time, capital expenditure increased to £10.0m compared to £5.5m in the prior year.
- Member milk volumes increased year on year by 148m litres up over 14%.
- Milk Link confirms new milk prices 8 MAY 2012 | Dairy
- Milk Link to upgrade sites and £2.4m investment revealed 15 FEB 2012 | Farming
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- Food > Confectionery
- Beverage > Dairy
- Business > Financial
- Foodservice > Catering
- Distribution > Retail