Duc, the France-based poultry processor, has reported an improvement in its profitability during the first half of its financial year despite a dip in sales.
The company booked a first-half net loss of EUR1.3m (US$1.5m) for the six months to the end of June, compared to EUR2.5m a year earlier. The group made an operating loss of EUR1.1m, versus a loss of EUR1.7m a year ago.
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Duc provided a set of pro-forma profit figures, which took into account a new deal with its creditors signed on 30 June. On that basis, Duc made a half-year net profit of EUR850,000 and an operating income of EUR1.1m in the first half of the fiscal year.
Sales fell 1.3% to EUR91.6m. However, Duc said the decline had been less steep than in previous half-year periods.
Nevertheless, competition from imports hit Duc's frozen volumes to the foodservice channel.
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The group said its moves to develop its export business "began to bear fruit" with "a regular flow of business to China", where it sells frozen chicken wings.
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