Wednesday, August 6, 2008

Dean Foods' Profits Soar 72%

Dean FoodsThere's no need to cry over spilled milk over at Dean Foods. Second quarter profits rose 72%.

With that profit increases, milk shuld be flowing like champagne!

The nation's largest dairy company reported (pdf) second-quarter net income of $48.9 million compared with $28.4 million a year earlier. Sales rose 9% to $3.1 billion due to higher milk and dairy prices.

Although we don't deny any company its just profits, we find yet another leading member of the Grocery Manufacturers Association (GMA) with record-breaking profits.

But all the while, the leaders of the GMA blame higher food prices on the backs of American farmers and supporters of biofuels.

Now THAT"S something to cry about.

Source: Dean Foods

Food Before Profit

Friday, August 1, 2008

Kraft's Krafty Profits

Kraft Foods, Inc.Kraft Foods reported its second-quarter profits rose nearly 4%.

The consumer food maker said this week that its profit rose to $732 million, or 48 cents per share, from $707 million, or 44 cents per share, a year earlier.

And Net revenues increased 21.4% to a healthy $11.2 billion.

It's amazing what raising food prices will do to revenue and profits.

What's even more amazing is that Kraft and the Grocery Manufacturers Association have been such critics of biofuels, blaming them primarily for food price increases.

But who's to blame for even higher profits?

Source: Kraft Foods


Food Before Profit