Ter Beke has booked a 26.7% rise in net profit for fiscal 2010, boosted by lower tax expenses and a rise in sales.
The Belgian meat-to-ready meals group said today (25 February) that net profit totalled EUR10.5m (US$14.4m), while EBITDA rose 6.7% to EUR37.5m.
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Sales were up at both the company’s divisions, rising 1.5% at the meat business, where Ter Beke expanded its share of the Belgian market, and 4.7% at the group’s ready-meals unit. Total sals were up 2.5% to EUR402.2m, the company revealed.
Looking to 2011, Ter Beke refrained from providing specific guidance. “The group is confident that it can maintain the growth in both divisions and that a further improvement of the results can be realised in 2011, save for unexpected circumstances,” the company said.
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