Rise in Asda profits driven by non-food sales growth
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ASDA, the UK&#39;s second-biggest supermarket chain, revealed yesterday that profits rose by 10.4 per cent last year, driven by its continued push into non-food products.
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National Foods Ltd. increased second- half profit by 12 percent as Australia&#39;s biggest fresh milk supplier expanded its range of gourmet foods and sold more Pura Classic and other flavored milk drinks in convenience stores.
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Restaurateur's shares shoot up on news of increased profitability.
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Inventories at wholesalers rose more than forecast in November and sales increased, reflecting rising prices for oil and farm products.
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The No. 2 grocer reports double-digit gains in sales and earnings after recent acquisitions.
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United Natural Foods Inc.  on Tuesday said quarterly profit rose as sales jumped after it regained its deal to be the primary distributor to Wild Oats Markets Inc. .
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The company reported net profit of $526 million on higher sales of agricultural and nutritional products in Latin America and it lifted its full-year outlook.
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By staff writers and wires. AUSTRALIAN company profits jumped 10.3 per cent in the June quarter thanks to robust consumer and business spending that will boost economic growth outcomes and the electoral prospects of the Howard Government.
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Rising textbook sales and strong growth in international bond ratings at its Standard & Poorâs unit helped lift earnings to $452 million, the company said.
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Better margins yield much-improved earnings.
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Anglo American reported a 76 percent increase in annual profit as it increased production capacity and benefited from higher metal prices. It also said it would buy back $3 billion worth of its shares. Anglo said profit for 2006 came to nearly $6.2 billion, up from $3.52 billion the previous year. Revenue rose 12 percent, to $38.6 billion. Excluding one-time items, Angloâs profit rose 46 percent, to $5.5 billion. The company did not break out quarterly results. âOur strong performance was due to increased production across the majority of our businesses and higher prices, in particular for base metals, platinum and iron ore,â the chief executive, Tony Trahar, said. Operating profit from gold rose 41 percent, the company said. Operating profit from diamonds was down 21 percent.
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Supermarket group Tesco, Britain's biggest retailer, has said that its sales increased by 9.6 percent during the third quarter, helped by solid growth in non-food items.
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Business & money: Sales back into positive territory after double-digit decline suffered earlier this year.
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A large climb in September U.S.  retail sales and bigger-than-expected gains in underlying  producer prices boosted hopes for stronger growth and bets that  the Federal Reserve will continue to raise interest rates.
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Archer Daniels Midland Co., the agribusiness giant, reported a 77 percent increase Friday in its first-quarter earnings, citing significant gains in oilseed and bioproducts processing and feed and ingredient sales and a major improvement in inventory
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Third-quarter profit rose 5 percent, helped by sales growth in its U.S. retail market and Canada, the company said.
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A quarterly profit of $3.2 billion was driven by increased trading volume and merger activity.