Belgian food group Ter Beke today (26 February) booked a 9% rise in annual profits as efficiency gains and cost control offset flat sales.
The ready meal maker and meat processor posted net profit of EUR8.3m (US$11.3m), a rise of 8.6% over 2008.
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Ter Beke pointed to “further efficiency improvements throughout the entire supply chain and continued cost control and cost reduction efforts”.
The company also cited “an improved product mix” in 2009. However, the business saw sales dip 0.2% to EUR392.4m last year as it lapped 2008 revenues that were boosted by “non-profitable” volume contracts in France ended in the first half of 2008.
Ter Beke’s operating profit jumped from just under EUR8m in 2008 to EUR15.1m in 2009. The company cycled 2008 figures that included EUR3.4m in charges.
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