French poultry group LDC books Q1 revenue rise - Just Food
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French poultry group LDC books Q1 revenue rise

06 Jul 2017

LDC, the France-based poultry processor, has posted a 7% increase in first-quarter sales, with an 8% rise in volumes driven the growth of the company's top line.

French poultry group LDC books Q1 revenue rise

LDC, the France-based poultry processor, has posted a 7% increase in first-quarter sales, with an 8% rise in volumes driven the growth of the company’s top line.

The group booked sales of EUR942.9m (US$1.07bn) for the three months to the end of May, reporting an 8.2% jump in the volumes sold.

On an organic basis, stripping out the impact of M&A activity, LDC’s revenue grew 6%, with volumes up 6.8%.

Excluding upstream operations, LDC said its French poultry business saw its sales increase 6.8% to EUR676.6m. Volumes were up 8.7%. Stripping out the results from Groupe Lionor, the French poultry firm LDC acquired this year, the group’s domestic poultry arm grew sales by 5.3%, with volumes rising 6.7%.

Including LDC’s upstream business in France, the company’s domestic poultry unit saw its sales rise 6.6% to EUR735.6m, or by 5.2% on an organic basis.

In all, LDC said growth from its brands, from sales to industrial customers and from sales to the foodservice sector were factors in the higher revenues from its French poultry arm.

The sales LDC generates from its international division grew 15% to EUR62.8m. Volumes increased 9.3%. LDC pointed to efforts to improve its mix of products and customers.

LDC’s third arm, its convenience foods division, saw its sales rise 6% in the company’s first quarter, hitting EUR144.5m. The company described the performance of the ready meals-to- sauces unit as “good” in a context marked by rising raw-material prices.

The group said it would give a forecast for its financial year when it publishes its half-year results in October.