Limagrain Continues to Grow
CHAPPES, France, November 7, 2012 /PRNewswire/ --
Limagrain has just completed its 2011/2012 fiscal year and can announce a sharp rise in its sales. Within a difficult economic climate, the international agricultural co-operative Group demonstrates once again the relevance of its strategy of consolidating its agricultural base in the Auvergne region while successfully expanding in major agricultural areas around the world.
Consolidated sales totalled €1,784 M, compared with €1,555 M in 2011, therefore an increase of nearly 15%.
Net profit totalled €88 M, compared with €92 M during the previous fiscal year, but the latter included a windfall profit of €30 M as a result of the sale of equity securities in China. Investment in research rose significantly to €165 M compared with €157 M, therefore 13% of "professional" sales. As of 30 June last, the Group has subsidiaries in 39 countries with almost 7,800 permanent employees.
Daniel Chéron, CEO for Limagrain, comments: "In the current difficult economic context, Limagrain has stayed on course and the increase of around 15% in our sales demonstrates this. Incorporating Brossard into the Bakery Products' Division has been a great success. The Group is continuing with its international development through sites in new areas, in particular in Brazil with projects involving seeds as well as cereal products and in India with the acquisition of Bisco for field seeds and Century, a specialist in vegetable seeds."
Limagrain is an international agricultural co-operative group, specialized in field seeds, vegetable seeds and cereal products. Founded and managed by French farmers, Limagrain is the 4th largest seed company in the world through its holding Vilmorin & Cie, European leader for functional flours through Limagrain Céréales Ingrédients and 3rd largest French industrial producer of Bread-Viennoiserie-Pastries through Jacquet-Brossard. The Group makes annual sales of more than 1.7 billion Euros and has a headcount of nearly 7,800, spread out over 39 countries, including 1,550 researchers. In Auvergne the Co-operative has 3,500 farmer members. It conducts its business within the framework of a global, sustainable vision of agriculture and agri-food based on innovation and regulation of agricultural markets