LDC H1 sales boosted by acquisitions, organic growth
LDC sales up 15% in first half
LDC, one of France’s major poultry suppliers, with brands such as Le Gaulois and Mary, has seen its turnover increase by 15% in the first half of the 2015-2016 financial year.
Its performance has been lifted by an acquisition strategy that has helped grow its business. Only this week it announced it had acquired two processing plants from Agrial, the French agri-food co-op business, in a EUR85m (US$96.5m) deal. This follows the purchase of a slaughterhouse and processing assets from The Avril Group, a local agri-food businesss in March, and the Polish Drop company that was acquired at the end of last year. All of which have helped increase consolidated sales for the first six months of the year to EUR1.68bn up from EUR1.45bn the year before. Like-for-like sales were up 2.1%.
Overall volume sales were up by 25.1% to 412.5k tonnes. LDC’s second quarter performance was a little down on quarter one with revenue figures of EUR833.1m compared to EUR847,6m, but still an increase of 16.9% on the year before.
Its poultry division returned EUR1.2bn, up by 20.5% and a volume increase of 30.9%. Second quarter poultry sales contributed EUR610.2m, an increase of 22% in revenue and 29.9% by volume. Like-for-like sales were up 2.2% in value and 2.7% in volume. The group said its performance was in line with its overall targets and objectives for the year.
Its international performance saw revenues of EUR114.6m, an increase of 22.1%, backed up by a 25.1% rise in volume tonnage sales, which was helped by the integration of the Polish Drop business in to the company. On a like-by-like basis, revenues increased by 4.9% and volumes 4.2%. Its second quarter international business saw sales up 19.7% to EUR55.4m with a 22.4% increase in tonnage sold.
LDC’s catering division returned revenues of EUR245.9m for the first six months of the year, up 3.2%. Volumes were up 3.1%. Catering value and volume sales were both up 3.6% in the second quarter, turning over EUR118.5m against EUR114.4m in 2014.
LDC employs 17,500 people across 70 processing plants in France, Spain and Poland and works with 5,500 poultry breeders.
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