Duc saw its first-half sales fall more than 10%, with the decline in revenue accelerating during the second quarter – although the French poultry processor said the result was in line with its forecasts.
The company posted turnover of EUR92.8m (US$123.9m) for the six months to the end of June, down 10.6% on the year. Sales dropped 11.5% in the second quarter to EUR47.2m.
Duc said its sales fell as a consequence of a reorganisation plan announced at the end of 2013. The company wants to improve its profitability through a focus on quality over volume.
Market trends also affected the business. Duc pointed to a decline in the frozen sector, while it faced lower prices year-on-year.
The group described 2014 as “a year of transition”. This year, Duc plans to recapitalise the business to fund an investment programme, which is to include resources for innovation and exports to northern Europe.
Duc is set to publish its full first-half results next month.
