Limagrain's Net Profit has Topped the 100 Million Euros Mark
CHAPPES, France, Nov. 15, 2013 /PRNewswire/ -- From 1 July 2012 to 30 June 2013, Limagrain operations have seen improvement from the previous fiscal year with sales figures of EUR 1,939 M (+8.7%). This performance, which is the result of a long-term strategy, confirms the effectiveness of Limagrain's cooperative governance and allows the Group to have a proactive policy in terms of investment and jobs. During the fiscal year, Limagrain had subsidiaries in 39 countries with almost 8,200 employees.
Net profit standsat EUR 109 M, compared with EUR 88 M on 30 June 2012, a notable increase from the previous fiscal year.
Investment in research rises significantly to EUR 188 M compared with EUR 165 M in 2011/2012. This accounts for 13% of the professional sales figures and stands at EUR 250 M when professional partnership work is included.
"Our Group is changing its pace," notes Daniel Cheron, Chief Executive Officer of Limagrain. "We are preparing for the future by means of a strong internal growth strategy and a targeted external growth strategy. During the fiscal year, new acquisitions and equity investments served to consolidate our presence in North America and in new development regions such as Asia or Africa. Very recently, we also announced a minority shareholding in Seed Co, the leading African seed company which operates in ten different countries. We are also going to strengthen our investments in research and focus on our partnerships in this area."
Jean-Yves Foucault, Chairman of Limagrain, highlights that:
"Limagrain has the distinctive characteristic of being an international cooperative group with strong ties to the Auvergne (France). Our cooperative model is based on balanced decision-making shared between elected farmer directors and salaried officers. This ensures a long-term vision and the successful implementation of our strategy."
Limagrain is an international agricultural cooperative 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 thanks to its holding, Vilmorin & Cie, European leader for functional flours with Limagrain Cereales Ingredients and leader on industrial bakery-pastry market in France with Jacquet-Brossard.
For further information: http://www.limagrain.com