The Limagrain Group has posted a like-for-like sales increase of 11.6% for the full year to 30 June 2011.
Parent company of Limagrain Céréales Ingrédients, which provides functional ingredient solutions for various markets including bakery, Limagrain, an international agricultural co-operative group, said the year passed in a “favourable environment”, despite persistent volatility in the prices of agricultural raw materials.
Consolidated sales came to €1,555 million (£1,296m), compared with €1,349 million (£1,125m)in 2010, an increase of 11.6% on a like-for-like basis, and up 15.3% including acquisitions.
Over the financial period the firm increased its investment in research, from €144 million (£120m) to €157 million (£130m).
Daniel Chéron, chief executive officer for Limagrain, said: “We are pursuing our dynamic march forward, preparing our future through a strategy of sustained internal growth and targeted external growth. Two highlights of the fiscal year were the acquisition of (bakery firm) Brossard in France and the alliance with the Brazilian seeds company Sementes Guerra”.