Rising profits from ingredients helped offset a fall in earnings from meat production at Netherlands-based Vion Food Group in 2007.
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The company said today (24 April) that its operating profit rose 33% last year to EUR221m (US$347m), thanks to cost-control and a series of acquisitions last year.
Turnover dipped 3.7% to EUR7.1bn as Vion felt the impact of falling meat prices.
Vion saw profits from its ingredients unit reach EUR73m, up from EUR65m a year earlier.
The company, however, said its meat business had “suffered from poor market conditions” in 2007. Despite cost cuts, earnings from the business fell from EUR86m to EUR81m.
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By GlobalDataAcquisitions, meanwhile, helped Vion’s smallest business, its convenience foods unit, see profits almost double from EUR28m to EUR51m.
