UPDATE 1-McCormick sees 9-11 pct EPS growth in 2011

* Sees net sales growth of 4-6 pct in 2011, beyond

* Says to resume share repurchases April 13 (BestGrowthStock) –
Spice maker McCormick & Co (MKC.N: ) expects earnings-per-share
to rise 9 to 11 percent in 2011 and beyond, helped by cost
reductions, and said it will resume share repurchases under a
current program.

The company, which sells spices, seasonings and food
coloring, also sees 4 to 6 percent growth in net sales in 2011
and beyond.

For its current fiscal 2010, the company had earlier
projected earnings of $2.49 to $2.54 a share and growth in
sales of 2 to 4 percent, with an additional 2 percent increase
from favorable foreign currency (Read more about trading foreign currency. exchange rates.

For its most recent year ended November 2009, McCormick’s
revenue rose 0.5 percent to $3.2 billion. For the same year,
its earnings per share rose 17 percent to $2.27.

McCormick said it has targeted savings of $150 million from
2010 to 2013 from a cost-reduction progam.

Shares of the Sparks, Maryland-based company closed at
$38.37 Monday on the New York Stock Exchange.

Investing
(Reporting by Mihir Dalal in Bangalore; Editing by Maju
Samuel)

UPDATE 1-McCormick sees 9-11 pct EPS growth in 2011