French poultry group LDC has shrugged off rising commodity costs and weak domestic demand to post higher annual profits.
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Operating profit rose 22.3% to EUR73.8m (US$115.6m) as LDC saw earnings and sales rise at home and abroad.
In France, operating profit rose almost 8% to EUR60.6m, despite “soaring” raw material costs and weakening demand during the second half of the year, LDC said. Sales in France rose 13.6% to EUR1.3bn.
LDC’s overseas business swung into profit after recording a loss in 2006. Operating profit reached EUR6.6m – against a loss of EUR1m a year earlier – thanks to a 25% jump in revenue to EUR181.2m.
Group turnover reached EUR1.8bn, a rise of 16.2%.
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