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LDC Profits Rebound, Equity Shrinks

First-half profit came from steady food demand, price volatility during pandemic

LDC logo positive

Louis Dreyfus Co. (LDC) posted a rise in first-half profit on Monday as the agricultural commodity merchant said steady food demand and price volatility during the coronavirus pandemic boosted most of its businesses, reports Reuters.

However, the 169-year-old group, which is considering bringing in an outside investor for the first time, reported a decline in its equity as it paid out a dividend to shareholders led by chairwoman Margarita Louis-Dreyfus.

LDC said first-half group net income reached $126 million from $71 million in the year-earlier period, while core earnings before interest, tax, depreciation and amortisation (EBITDA) from continuing operations rose to $634 million from $423 million.

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