: Sparks, MD.-based McCormick is engaged in manufacturing, marketing and distributing flavor products including spices, herbs, extracts, seasonings and flavorings and other food products to the entire food industry.
McCormick said it had to implement price increases last quarter to offset "a significant increase in raw and packaging material costs
," and to its credit, the increases did result in a double-digit profit gain.
McCormick said its joint venture in Mexico started 2011 off with healthy sales and profit growth, though the company said in its recent earnings report that "higher commodity costs are expected to impact this business as the year progresses."
Cost of goods sold edged up less than 0.1% year-over-year in the first quarter this year.