Terrena saw sales and net profit rise, but operating profit fall on costs related to improving efficiencies

Terrena saw sales and net profit rise, but operating profit fall on costs related to improving efficiencies

French agri-food co-operative Terrena has posted mixed results for 2015.

While net profit rose to EUR31.3m (US$35.5m), up from EUR22.1m in 2014 when costs weighed heavy on the bottom line, the firm did report a fall in operating profit.

Operating profit for 2015 was EUR26.8m compared with EUR35m. Terrena however insisted this was in line with expectations following "actions" in the year on improving productivity and efficiencies.

Sales for the period rose 7.2% to EUR5bn, helped by "positive changes in scope" and integration of the Anjou Maine Cereals business which it acquired in 2014.

Maxime Vandoni, CEO of Terrena, said: "Despite a combination of sectoral crises in 2015, the results of Terrena prove that our versatile business model is sustainable".

2016 he said would see continued integration of acquisitions.

"In beef, the reconciliation with our Irish partner Dawn Meats allow Elivia to develop its export sales in Europe and worldwide. Moreover, the acquisition of Doux Group allows us to organise a powerful poultry [business] increasing our international activities significantly."

Terrena announced the acquisition of Doux last year.