RPT-Louis Dreyfus first-half profit drops on tough commodity markets
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PARIS, Sept 29 (Reuters) - Global trading group Louis Dreyfus Commodities B.V. on Tuesday said its first-half profit 2015 fell by half as it felt the impact of falling commodity prices and tough conditions in major markets from Brazil to China.
The family-owned firm said consolidated net profit, group share, fell to $130 million from $260 million in the first half of last year, while net sales dropped to $26.4 billion from $33.7 billion.
"The external environment remained difficult during the first half of 2015, with some key countries in the agricultural space facing economic (China and Brazil) and political (Black Sea region) uncertainty," Louis Dreyfus Commodities said in a statement.
Volumes shipped by the company, however, rose 4 percent in the first half, it said.
Louis Dreyfus is one of the "ABCD" quartet of companies -alongside Archer Daniels Midland, Bunge and Cargill - that dominate agricultural commodity trading. Its three traditional rivals each disappointed investors with their most recent quarterly results. [ID:nL1N10H1OF [ID:nL1N10A0UG
The group has been through a prolonged CEO search that ended this month with the promotion of its Asia chief Gonzalo Ramirez Martiarena. He is due to take up his role this week.
(Reporting by Gus Trompiz)
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