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Victory Working To Maintain Momentum
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Victory Refrigeration came into 2007 seeking to build on the combined momentum of the above-projection sales and income growth it reported at the end of the previous year.
According to Mark Whalen, president of Victory and its parent company, Aga Foodservice Equipment, during the first half of the year the company has lived up to expectations in one of those areas, but has felt some pressure in the other. "We wanted to continue the positive trend that we established in '06 with growth in sales and operating income. So far, we've had good sales growth, but we've been whip-sawed a little bit by rising raw materials costs," he said.
The firm has taken several steps to counter higher expenses, Whalen added. Victory has instituted slight price increases on some of its products, put in place process improvements that are reducing its costs and strategically outsourced certain product lines. These and other changes, Whalen said, should help the firm get back to 2006's profit levels during the second half of this year.
To keep up with the increasing demand for its products, Victory has made several key moves so far this year. The firm expanded the capacity of its factory in Cherry Hill, N.J., by 15% to 20% and has rolled out its first new products in four years: a glass door merchandiser line and back bar refrigeration line. Both new product selections earned positive reviews from visitors to Victory's booth during the National Restaurant Association Show in May.
Looking ahead, the firm plans to expand its product portfolio even more during the second half of the year. At The NAFEM Show in October, Victory will introduce its redesigned blast chillers, which will be NAFEM Data Protocol-complaint and will help end-users adhere more strictly to HACCP guidelines.
"With the redesigned blast chillers' new controllers, we'll be able to provide operators with real-time alarms and data acquisition. Down the road, we expect to offer similar controllers on our spec refrigerators, as well," Whalen said.
For more information on ENERGY STAR-qualified Victory models, visit Victory's web site at www.victory-refrig.com
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