UPDATE 1-Louis Dreyfus profits fall, seeks partners

lunes 21 de marzo de 2016 13:17 GYT
 

* Commodity trader's 2015 profits fall on market downturn

* Confirms seeking partners for some units, renames group

* Barring crop failure, see more abundant supplies in 2016

* China's destocking, overseas acquisitions key trends (Updates with partnership plans, details on results)

By Gus Trompiz

PARIS, March 21 (Reuters) - Louis Dreyfus is seeking partners for some of its businesses to help the commodity trading group to weather a market downturn that hit full-year profits.

Lower prices, plentiful supply and faltering economic growth in emerging economies have put pressure on commodity traders like Louis Dreyfus that collect, export and process crops.

Louis Dreyfus' net income dropped 67 percent to $211 million last year from $648 million in 2014, while net sales fell to $55.7 billion from $64.7 billion, the company said on Monday.

"We will still see abundant supplies (this year)," Chief Executive Officer Gonzalo Ramirez Martiarena told reporters in Paris. "If you don't lose one or two crops in the world you won't see volatility."   Continuación...