Louis Dreyfus posts jump in first-half profit By Reuters – Investing.com
- Date: 21-Sep-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:UAE
Louis Dreyfus posts jump in first-half profit By Reuters – Investing.com
PARIS (Reuters) -Louis Dreyfus Company (LDC) reported on Tuesday a sharp rise in first-half profit, a further sign that climbing commodity prices and strong demand for staple crops are boosting earnings for international merchants.
Group net profit reached $336 million, up 167% from $126 million a year earlier, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased 23% to $778 million.
A surge in commodity prices and strong grain demand from China have supported earnings for agricultural merchants during the coronavirus pandemic, and helped LDC's profits to recover last year.
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