French poultry group Duc has booked first-half losses as higher costs offset improving sales volumes.
The company said today (7 October) that it racked up a net loss of EUR2.06m in the first six months of the year. Last year, first-half net profit totalled EUR0.017m. Operating profit slid to a loss of EUR1.8m, down from EUR0.31m in the comparable period of last year, the company added in a filing.
Profits were hit by higher feed costs and growing competition, particularly from cheap imports, the company revealed.
Duc has decided to focus on premium poultry products and the group suggested that growing sales of its GM-free line validated this strategy. Sales volumes increased 12.34% on last year, Duc added.
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