French Poultry Firm LDC Sees Sales Up 8.4% In First Half
French poultry producer LDC has posted a 8.4% increase in sales in the first half of its financial year, to €2.1 billion.
On a like-for-like basis, sales were up 3.9%, with volumes sold up 7.9%, or 1.2% on a like-for-like basis.
The group's core Poultry France business saw a 5.7% increase in sales in the first half (+2.9% like-for-like), with sales driven by the integration of recent acquisitions.
Volumes were down in the division, however, by 1.2%, due to lower supermarket sales and a slight decline in the availability of products during the summer months due to inclement weather.
Its International business saw a 51.2% increase in sales due to the integration of the Tranzit business in Hungary, the group said. In addition, in Poland, sales were up by 16.5%, with volumes up 17%.
Good export momentum also contributed to the positive sales trend, the business said.
LDC is anticipating the second half of the year to be 'an extension of the first', with the group's core growth drivers continuing to post 'solid' performances.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.