Commodity trader Louis Dreyfus posts higher 2014 profit

jueves 26 de marzo de 2015 05:07 GYT

* Group net profit rises slightly to $648 mln

* Volumes, processing margins offset lower crop prices

* Says capex falls to $592 mln in targeted investments

PARIS, March 26 (Reuters) - Global trading group Louis Dreyfus Commodities B.V. reported a rise in full-year profit on Thursday as increased volumes and healthy processing margins helped offset lower market prices.

Louis Dreyfus is one of the "ABCD" quartet of companies -alongside Archer Daniels Midland, Bunge and Cargill - that dominates agricultural commodity trading.

The 164-year-old family-owned firm is in the midst of a corporate shake-up and has been searching since last year for a new chief executive to lead the trading house into a potential share listing or merger deal. It did not comment on the CEO search in its results statement.

Net income, group share, reached $648 million last year, up from $640 million in 2013, while net sales rose to $64.7 billion from $63.6 billion, supported by a 4 percent increase in shipped volumes to 80 million tonnes, the company said.

The group's Value Chain division, comprising integrated activities in oilseeds, grains, juice, fertilisers, livestock feed and stock, posted a 19 percent rise in its operating result as ample crop supply benefited processing activities, Louis Dreyfus said.

One exception was the juice unit, which suffered from lower consumption and high inventory levels in global juice markets.   Continuación...