Strong margins, diligent expense control and favorable exchange rates contributed to record earnings at Bühler Industries last year, despite a drop in sales revenues.

Revenues were down 4.7% from the equivalent of U.S. $330 million in 2012 to $315 million in the company’s financial year to September 30, but were still the second-best in the company’s history. Income from operations was the highest ever recorded, hitting $32.6 million, an increase of 9.5% or $2.8 million…