Orior, the Switzerland-based food maker, has booked higher annual sales and profits, boosted by its acquisition last year of Belgium’s Culinor Food Group.

The company generated sales of CHF527.7m (US$521.5m), up 5.5% on 2015. EBIT increased 3.9% to CHF35.2m. Net profit rose 11% to CHF28.4m.

Orior provided a figure for EBITDA, which it said was up 5.7% at CHF51.5m.

“A greater focus on portfolio management and the unremitting execution of numerous projects to improve cost-efficiency were the key factors behind the EBITDA performance,” Orior said.

The company reported a 1.5% fall in the revenue from its operations in Switzerland. Orior pointed to price cuts and to “intense competition” in the retail and foodservice channels.

In its outlook for 2017, the group said it expects “the general market environment to remain challenging”. Orior said it will focus on “product and conceptual innovation, strong partnerships, investments in our brand family and attractive market niches”. “We will further streamline our portfolio and selectively channel resources into the expansion of strategic growth areas.”