FRANCE: Increased prices drive Q1 sales at poultry firm LDC
LDC has had success in raising prices with retailers
Success in securing higher prices with its retail customers has helped drive LDC's first-quarter sales, the French poultry firm has said.
LDC reported a 9.2% increase in turnover to EUR687.2m (US$984.1m) for the three months to the end of May.
A jump in commodity costs was a factor in LDC's profits falling in its last full financial year but the company said on Monday (4 July) that it had managed to increase prices with retail customers. A 2.8% increase in volumes also helped sales.
LDC, which also makes products including pizza, sandwiches and ready meals, said talks with retailers on the prices of its poultry products were continuing.
Excluding its upstream business, LDC said its domestic poultry business saw sales climb 12.2% to EUR459.9m.
However, the company's deli operations in France, which takes in products like pizza and sandwiches, saw sales fall 1.8%. Volumes were down 3%.
LDC also has poultry operations in Poland and Spain and said its overseas unit had generated a 12.6% increase in sales to EUR40.8m.
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