Food Industry
Industry: Email Alert RSS FeedQuaker up in first quarter - Brief Article
Eurofood, April 26, 2001
US firm Quaker, about to be absorbed by compatriot cola and snack food giant PepsiCo, has reported first quarter sales driven by cereal growth and another solid performance from Gatorade.
Earnings for the quarter ended 31 March 2001 stood at US$109.5m (123m [European Dollar]) compared to US$1.8m a year ago. Excluding one-time restructuring items in both years, Quaker earned US$196.5m, up from US$189.3m. Revenues stood at US$1.23bn, a 4.6% increase compared to a year earlier.
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Robert Morrison, company chairman at Quaker reported many of Quaker's products as gaining market share, but it was Gatorade which turned in another star performance, with an 11% sales increase to US$442.4m.
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