About Us  |   Contact Us  |   Register  | Login  |   

Follow HedgeWorld on Twitter HedgeWorld on LinkedIn






HEDGEWORLD NEWS
Search the News
Advanced News Search
HedgeWorld News by Region
United States / Americas
Europe
Asia / Australia
International
HedgeWorld News Sections
Managed Futures & Derivatives
Daily News
Regulatory/Legal
Strategies/Analysis
Technology
Opinion
People
Indexes
Other News Features
Most Popular
LexisNexis Headlines
Reuters Headlines
The HedgeWorld Blog
Alternative Advantage Daily Newsletter
RSS Service
Sign Up For Email News Alerts
Reprints



Louis Dreyfus Commodities says 2012 profit its largest ever
03/27/2013 Email this story  |  Printable Version

March 27 (Reuters) - Louis Dreyfus Commodities, one of the world's largest agricultural traders, on Wednesday reported its largest-ever annual profit on robust global demand for food products and historically high crop prices after a severe U.S. drought.

The privately held company said in an annual report that net earnings jumped 25 percent to $1.1 billion in 2012, excluding a $93 million loss in BioSev, the company's ring-fenced Brazilian sugarcane milling business which suffered from low cane yields and low ethanol prices.

The profit surpassed its previous record earnings of $962 million in 2010.

Louis Dreyfus, like its agribusiness rivals such as Cargill and Bunge, responded to a sharp decline in U.S. crop output last year by supplying its customers with products from other origins such as South America and Europe.

"Our enhanced geographic, platform and business diversification strategy fueled this historically high performance and made the difference in a challenging and fragile world economy," said Louis Dreyfus Group chairwoman Margarita Louis-Dreyfus.

Louis Dreyfus accounted for more than 9 percent of global agricultural trade after transporting and processing more than 70 million tons of commodities, CEO Serge Schoen said.


Email This Story to a Friend   |   Display Printable Version of This Story

Story Copyright © 1999-2014 Reuters HedgeWorld All rights reserved.

HedgeWorld News is sponsored by:






Lipper    Privacy   User Policy  Legal Disclosure Copyright/DMCA  Site Map    FAQ    Glossary  Thomson Reuters for Hedge Funds
All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of HedgeWorld content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. HedgeWorld is a registered trademark of Thomson Reuters.