Today’s Restaurant, the trade newspaper for the restaurant industry in Florida and Georgia offers:
|Food and beverage producers expect growth during next 12 months|
The survey reveals a vast majority (90 percent) of food and beverage executives expect revenues to increase during the next year, and one-third are expecting sales growth greater than 10 percent. Food and beverage companies have their sights fixed on profitable growth, with 82 percent of those surveyed citing that their profits will increase in the next 12 months. Industry executives (56 percent) also expect that employment will increase during the next year.
In addition, more than three-quarters of executives report that their organizations will increase spending on equipment, new product development and information technology in the next 12 months. The greatest appetite to invest in equipment is being shown by business leaders in North America (86 percent), and Australasia (85 percent), followed by Europe (77 percent). However, for investment in new product development, North America (86 percent) is showing the greatest enthusiasm.
Regulatory concerns are atop the worry list of food and beverage processors. Specifically, global executives cite the following types of regulations and the negative effect they may have on their companies: environmental (48 percent), taxes (44 percent), food-labeling (38 percent), food-traceability (33 percent) and employee health care (25 percent).
"Many companies have programs in place, and they're trying to make adjustments so their programs comply with the rules," said Manning. "But at the end of the day, some executives look at it and say, 'Well, Congress hasn't funded it yet, and so they may not be able to enforce it.' This means that many companies do not expect much impact, especially given U.S. budget deficits and cost-cutting."
Other highlights from the survey include:
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