Ter Beke H1 profits rise

Ter Beke H1 profits rise

Belgian food group Ter Beke has booked an increase in profits for the first half of the year.

For the six months to the end of June, the company earned EUR5.7m (US$7.2m), a 29.5% increase on the prior year.

EBITDA amounted to EUR19.6m compared to EUR16m in 2009, while sales climbed 3.1% to reach  EUR197.3m.

“In 2010, the group will continue to work on improving the profitability of its activities, both in the processed meats division and in the ready meals division,” the firm said.

“In the second semester, the investments in the Come a casa brand and in the production processes will be further increased. Still, the group expects that, save for unforeseen circumstances, the EUR1.3m net result improvement will be reflected in the results of the full year,” it added.

Click here to view the full earnings release.