FRANCE: Duc warns delay over pricing deals could hit results
Duc warnes on FY
Groupe Duc, the French poultry processor, has warned a delay in securing price increases from retailers is likely to affect its annual results.
Duc said it had managed to convince its customers to push through price rises to offset commodity costs but said "three months of intense negotiations" would means it full-year financial numbers will be affected.
"The delay in negotiations to reflect the soaring prices of raw materials should weigh on the group by the end of the year," Duc said as it reported its third-quarter sales. The company did not provide further details.
An increase in third-quarter sales helped offset a fall in the previous quarter and meant Duc saw its revenue for the nine months to the end of the year rose 1% to EUR136.8m (US$173.9m).
Improved sales of turkey and value-added poultry products helped sales in the third quarter, which were up 2.8%, Duc said.
Duc willl report its annual sales in February.
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