news from bakery industry

BAKERY - NEWS

Britannia industries have bought 70% stake in Middle eastern company
in Dubai . Strategic food International co llc and Al sallan food company
in Oman .

Britannia Industries Q1 net up 19 pc
24 Jul, 2007, 2115 hrs IST, REUTERS

MUMBAI: Top biscuit maker Britannia Industries Ltd said on Tuesday its
quarterly net profit rose 19 per cent, but cautioned pressure from high prices of
raw materials would persist.

Britannia, controlled through equal indirect stakes by French food company
Danone and India's Wadia Group, said net profit in the fiscal first quarter to
end-June rose to Rs 361 million from Rs 303 million a year earlier.

It said net sales rose 19 percent to 5.77 billion rupees. Raw material costs
climbed by a fifth from a year earlier.

"The unprecedented increase in commodities like wheat, dairy products etc.
that started last year, is likely to continue in the current year, as well," Britannia
said in a statement.

There has been growing speculation Danone may exit Britannia because the
French firm is keen on independent operations in the fast-growing Indian
market.