Dreyfus chairwoman sees revenue rise to around $60 bln this year

Reuters

ZURICH, Oct 27 (Reuters) - Trading giant Louis DreyfusCommodities expects revenue to increase to roughly $60 billionthis year, its controlling shareholder, Margarita Louis-Dreyfus,said in a newspaper interview on Sunday.

"We have expanded trading with considerably more productioncapacity, which is a unique combination. That has enabled thisrapid growth," Louis-Dreyfus, chairwoman of the traditionallysecretive privately owned company, is quoted as saying in NeueZuercher Zeitung am Sonntag.

Last year, Dreyfus recorded $57.14 billion in net sales anda net profit of $1.096 billion, according to its website.

Louis-Dreyfus, the widow of former head RobertLouis-Dreyfus, also said the family-controlled Akira Trust wantsto increase its stake from roughly 65 percent currently bybuying out family members not in the trust.

"As many as possible," Louis-Dreyfus says in response to aquestion on how many shares the family trust is prepared to buy.

"It's defined how we - and that we - can buy additionalshares. We are prepared to do so at any time," she said.

Earlier this month Dreyfus, a 160-year-old company withFrench roots and trading operations in Switzerland, disclosed a13 percent drop in first-half net profit, citing a drought inthe United States.

Last month, the commodities trader named Serge Schoen as thesupervisory board chairman of its commodities holding, a leadingstrategy role. The executive has in past said Dreyfus might needto go public, following rivals such as Glencore,sometime in the next five years to improve access to capital.

Dreyfus, the "D" of the so-called ABCD majors that dominatetrade in agricultural products which also comprises ArcherDaniels Midland, Bunge and Cargill, plans to invest inassets ranging from orange groves to sugar refiners to expand,according to a memo seen by Reuters in July.

Rates

View Comments (0)