BELGIUM - In the first half of 2014 Belgian meat and food processor, Ter Beke saw turnover fall by 1.6 per cent or €3.3 million to €199.3 million.
However, the company succeeded in improving the result and the net cash flow to by 22.8 per cent and 5.1 per cent respectively.
REBITDA amounts to €16.3 million in 2014 compared to €14.4 million in 2013 a rise of 13 per cent.
The first half of 2014 also includes €1.2 million in non-recurring expenses in redundancy payments.
This meant that EBITDA was € 15.1 million compared to €13.6 million in 2013 – a rise of 11.3 per cent.
EBIT was €6.3 million compared to €4.5 million in 2013 a rise of 39.8 per cent.
The result after taxes was €3.7 million compared to €3.0 million in 2013 a rise of 22.8 per cent.
Ter Beke said that the drop in turnover was because of extensive optimisation of the product range and the termination of own production of dried and cured processed meats in the meat division.
However, renewed consumer confidence after the EU horsemeat scandal saw a rise in turnover and sales for lasagne.
The company is also building a new factory in in Opole, Poland, which it believes will help boost trade further.
TheMeatSite News Desk