Milling & Baking News - November 2, 2004 - 9

L AT E N E W S

FLOUR
FEED * GRAIN
* QUALITY

* UNIFORMITY

* SERVICE

the
Mennel
MILLING COMPANY

The U.S.D.A. issued
its first composite
condition rating of the
2005 winter wheat
crop. Seventy-six per
cent of the crop rated
good to excellent,
compared with 53% in
the initial ratings for
the 2004 crop. Ratings
were the best for the
hard winter states. Ohio
claimed the best rating
among Central states.

the
Mennel

MILLING COMPANY

"Since 1886"
+800-688-8151

FAX: (419) 436-5150
sales@mennel .com ,
www .mennel.com
Flour Mill Locations

Fostoria , Ohio

Dowagiac , Michigan
Roanoke , Vitginia
Mt . Olive , Illinois

10 / Milling & Baking News, November 2, 2004

Continued from Page 1
straight year that Sara Lee has raised its dividend,
and January's payment will constitute the company's 235th straight quarterly payment.
DECATUR, ILL. - Net income of Archer Daniels Midland Co. in the first
quarter ended Sept. 30 surged 77% to
$266,297,000, equal to 41c per share on
the common stock, up from $150,181,000,
or 23c per share, in the first quarter of fiscal 2004. The company's sales rose 13%
to $8,972 million as it posted higher operating profits
in all key segments except corn processing, in which
earnings declined as higher net corn costs offset the
impact of improved bioproducts results. Operating
income in the food and feed ingredients segment,
which now encompasses wheat milling, rose 29% to
$89,239,000 behind improved earnings of the Gruma
corn flour venture.

ADM income
soars 77%
in quarter

MEXICO CITY - Grupo Bimbo S.A.
de C.V. is attempting to increase profits in the United States by dropping
stock-keeping units and changing its
price structures. Bimbo in the recently
completed third quarter saw total
worldwide sales of NP12,936 million
($1,122 million), a 4.6% increase from last year's third
quarter. However, sales in the U.S., which represents
about 27% of Bimbo's business, were flat when compared with last year's third quarter. Bimbo already
has dropped 80 s.k.u.s in the U.S. and is reviewing
another 500, said Daniel Servitje, Bimbo's chief executive officer, in a conference call last week.

Bimbo drops
s.k.u.s in
U.S.

WHITE PLAINS, N.Y. - One day after
announcing it had agreed to buy a grain
terminal in Russia (see page 36), Bunge
Ltd. said late last week that it agreed to
buy another Russian business, the Ideal
brand of premium edible oils. Bunge
will pay about $20 million to Molinos
Rio de la Plata in a deal that encompasses exclusive
rights to the brand in Russia and all former Soviet
Union states. Bunge already owns the Oleina bottle
oil brand in Russia. "The combination of Ideal and
Oleina creates a product portfolio that meets a variety of consumer needs," said Jean-Louis Gorbin,
chief executive of Bunge Europe. "It mirrors a strategy that Bunge has implemented successfully in
markets such as Brazil, Poland and Hungary."

Bunge makes
another foray
into Russia

BAGSVAERD, DENMARK - Novozymes A/S last week reported food
enzyme sales of DKK377 million ($63.93
million) for the third quarter ended
Sept. 30, a 7% decline from DKK393
million ($68.38 million) in last year's
third quarter. Lower U.S. bread consumption adversely affected sales to the baking industry in the quarter, according to Denmark-based
Novozymes. The company reported third-quarter
sales for all enzymes of DKK1,477 million, a 1%
rise from DKK1,461 million last year. Total North
American sales for Novozymes in the third quarter
were DKK452 million, a 2% increase from DKK445
million last year. MBN

Dip in bread
sales affects
Novozymes

bakingbusiness.com / world-grain.com

http://www.mennel.com http://www.bakingbusiness.com http://www.world-grain.com

Milling & Baking News - November 2, 2004

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