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France’s LDC posts turnover above €4bn for the first time

LDC, France’s largest poultry group, reported a full-year operating profit of €190m in its latest full-year results, which cover the period to 28 February.

It compares with €184.7m the year before and is targeting a further 5% rise in operational profits this year.

Part of its profit growth is expected to come from the takeover of Hungarian poultry group Tranzit last year.

Chairman Denis Lambert said the company, which has a near 40% market share in France, would target winning share from imports on the domestic market.

But warned the group’s target for next year was subject to commodity costs, notably grain prices.

“The situation seems not as tight as this year but grain prices are linked to geopolitics and on that front it is quite tense,” Mr Lambert told Reuters, in reference to price moves linked to US-China trade tensions.

Revenues exceeded €4bn for the first time in these results, up 7.7% compared with the previous year.