date:Apr 05, 2013
7%, 4% and 13% respectively. For the industrial business, volume and product mix declined 5%, mainly due to weaker demand from quick service restaurants and a strong growth rate in the first quarter of the previous year.
McCormick chairman, president and CEO Alan Wilson said, Demand has been weak in certain markets, including quick service restaurants in the U.S. and China, although we expect some recovery in the upcoming quarters.
In the first quarter, cash flow from operations totalled $32m,