BELGIUM - Belgian meat and food processing group Ter Beke saw a rise in profits on a decreased turnover last year.
The Processed Meats division saw a drop in turnover as the company optimised its product range and discontinued own production of dried and cured meats in teh plant in Herstal in December 2013.
There was also a consolidation of operating results, partly due to far-reaching cost reductions.
However, the Ready Meals division saw and increase in turnover and results from lasagne, partly due to persistent marketing efforts.
In all the group saw a drop in turnover from €407.2 million to €399.7 million, a fall of 1.8 per cent.
Operating profit or EBIDTA came to €33.7 million compared to €30.8 million in 2013 – a rise of 9.7 per cent.
EBIT was €16.2 million compared to €12.8 million in 2013, up by 26.8 per cent.
EBIT in 2014 includes approximately €2.3 million in non-recurrent costs, compared to €2.2 million in 2013.
During the year, the Processed Meats division saw the development and launch of a salami-snack range and modernisation of the paté range of products as well as the relaunch of a top range of speciality fine meats under the Daniël Coopman brand.
There was also a new range of resealable packaging for the Dutch and UK markets.
In the Ready Meals division, the new ready meals factory in Opole, Poland, has been operational since early October 2014.
TheMeatSite News Desk