Some of the big players in the industry have announced positive financial results, based on profitable transactions made in the past financial year, but also due to the introduction of new equipment and technologies for the industrial freezing market.
BT Corporation, one of the leading global providers of solutions and equipment for the food processing industry, has recently announced its full-year results for 2013. Of particular interest, JBT FoodTech’s record fourth quarter revenue of USD187.8m increased slightly over the fourth quarter 2012. Strong sales of fruit and juice equipment was offset by lower freezing equipment sales, while segment operating profit of USD 21.5m decreased 10 percent from the same period in 2012, driven primarily by higher execution costs in Europe. According to company representatives, strong order activity for freezing and protein processing equipment, particularly in Asia, drove the increase in inbound orders.
“Our business is healthy and we expect to drive moderate revenue growth in the year. We also have taken several steps for long-term value creation beyond 2014, including operational excellence initiatives and restructuring actions. While associated costs are expected to impact 2014 earnings, we are confident the actions will drive significant future earnings growth,” said President and Chief Executive Officer Tom Giacomini.
According to the company’s latest financial report, for the first quarter, it expects revenue to increase by about ...