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Net profit standsat EUR109 M, compared with EUR88 M on 30 June 2012, a notable increase from the previous fiscal year.
Investment in research rises significantly to EUR188 M compared with EUR165 M in 2011/2012. This accounts for 13% of the professional sales figures and stands at EUR250 M when professional partnership work is included.
"Our Group is changing its pace," notes Daniel Cheron, Chief Executive Officer of Limagrain. "We are preparing for the future by means of a strong internal growth strategy and a targeted external growth strategy. During the fiscal year, new acquisitions and equity investments served to consolidate our presence in North America and in new development regions such as Asia or Africa. Very recently, we also announced a minority shareholding in Seed Co, the leading African seed company which operates in ten different countries. We are also going to strengthen our investments in research and focus on our partnerships in this area."
Jean-Yves Foucault, Chairman of Limagrain, highlights that:
"Limagrain has the distinctive characteristic of being an international cooperative group with strong ties to the Auvergne (France). Our cooperative model is based on balanced decision-making shared between elected farmer directors and salaried officers. This ensures a long-term vision and the successful implementation of our strategy."
Limagrain is an international agricultural cooperative group specialized in field seeds, vegetable seeds, and cereal products. Founded and managed by French farmers, Limagrain is the 4thlargest seed company in the world thanks to its holding, Vilmorin & Cie, European leader for functional flours with Limagrain Cereales Ingredients and leader on industrial bakery-pastry market in France with Jacquet-Brossard.
For further information: http://www.limagrain.com
Source: Limagrain