Buhler Technology Group announced its fiscal 2011 results, earning sales of CHF 2.131 billion (US$2.35 billion) and growth of nearly 12 percent.
The petfood production technologies company increased order intake by more than 3 percent to CHF 2.233 billion (US$2.46 billion) as a result of the company’s strong presence in emerging markets. The company’s earnings before interest and tax increased more than 7 percent to CHF 218 million (US$240.1 million) and net profits increased 3 percent to CHF 163 million (US$179.52 million). Adjusted for exchange rates, Buhler’s two food divisions increased sales volumes by about 20 percent.
During 2011, Buhler’s spending on research and development was CHF 89 million (US$98.02 million), 4.2 percent of sales, with a focus on nutrition, safe foods and energy efficiency.
For current fiscal 2012, the Executive Board expects a moderate increase in volumes due to the uncertain economic situation.
Still in its infancy, cell-cultured meat is being looked at for its possibilities, but environmental challenges exist, as well.
By David Sprinkle
While forecasts can have short shelf lives, being overtaken by unforeseen events, there’s no question that the U.S. economy and American houseeholds have been buffeted by COVID-19 shutdowns and illnesses, patches of job insecurity despite low unemployment rates and record price inflation only partially offset by wage increases.