UPDATE 3-Louis Dreyfus sticks to spending plan despite profit slide

miércoles 26 de marzo de 2014 22:29 GYT
 

* Louis Dreyfus Commodities full-year net income $640 mln

* Fallout from U.S. drought hits grains, oversupply hurts softs

* Still seeks $4 bln spending by 2014, aims to double sales

* Eyes coffee consolidation, expanding Black Sea logistics (Recasts with investment, sales targets to 2018, analyst comment)

By Gus Trompiz

PARIS, March 26 (Reuters) - Global trading group Louis Dreyfus Commodities B.V. said it will stick to plans to double sales within five years by boosting investments, shrugging off a drop in 2013 profits from dought-hit grain markets and an oversupply in soft commodities.

The 163-year-old Louis Dreyfus group is the "D" of the so-called ABCD majors that dominate agricultural commodities, alongside Archer Daniels Midland, Bunge and Cargill.

The company aims to invest $4 billion, or on average $800 million a year, between 2014 and 2018, it said in an annual report accompanying its results statement on Wednesday.

This would be in line with the investment pace envisaged in the group's previously indicated $5 billion target for 2012-17, excluding spun-off Brazilian unit Biosev, but above capital investment of $689 million last year and $652 million in 2012.   Continuación...