H1 profits up at French poultry group LDC

H1 profits up at French poultry group LDC

LDC, the French poultry processor, has reported an increase in first-half earnings.

The company booked net income of EUR57.2m (US$60.7m) for the first six months of its 2015/2016 financial year, up from EUR46.2m in the corresponding period in the previous 12 months. 

First-half EBIT stood at EUR82.3m, compared to EUR70.1m in the first six months of 2013/14.

LDC, which reported its first-half sales last month, said the results of its three divisions were "in line with targets".

The company saw EBIT from its international operations fall, which it put down to the integration of Polish group Drop, a business it moved for last November.

LDC's deli products division swung into the black on an EBIT level thanks to higher sales.

The group, one of France's major poultry suppliers, with brands such as Le Gaulois, expects annual EBIT to grow to over EUR150m, depending, it said, on its sales over the key festive trading period.