UPDATE 2-Nutreco eyes buys after leap in H1 profits

* EBITA 84.0 mln euros vs 41.6 mln last year

* Sees 25 percent increase in 2010 EBITA

* Has 400-500 million euros for acquisitions

* Provimi would be good strategic fit, CEO says

* Shares up 1.03 percent at 0715 GMT

(Adds details from conference call)

By Marcel Michelson

AMSTERDAM, July 29 (Reuters) - Dutch food group Nutreco (NUTR.AS) wants to make further acquisitions after reporting a big jump in first-half operating profits on healthy volumes in animal and fish feed and poultry processing.

First-half key operating profit doubled. The group predicted that pace would slow over the full year but still make 2010 a record year.

A return of confidence among farmers and rising food prices were the main driver for a recovery while the long-term trend of increased food consumption in the world would underpin the group's position to supply fish farms and other breeding operations in meat and poultry.

Chief executive Wout Dekker said the firm wanted to focus its growth on Brazil, China, Russia and Vietnam which are rapidly becoming main fish farm centres and where Nutreco bought Tomboy Aquafeed earlier this month. The firm has 400 million to 500 million euros ($520.6-$650.7 million) available for acquisitions, he said.

Nutreco competes with Provimi, Norvite Animal Nutrition Company, Cargill [CARG.UL], Alltech, DSM (DSMN.AS) and Danisco DCO.CO. The firm was formed in 1994 after a management buy-out from BP (BP.L).

FEEDING ON RIVALS?

Nutreco also wants to participate in the consolidation of the sector. Asked whether he would look at Provimi, he said the firm would be a good strategic fit.

Provimi had been listed for a while before Permira acquired it and the private equity fund is bound to want to divest it again in time. Dekker declined further comment.

Nutreco said its underlying earnings before interest, tax and amortisation (EBITA) in the first six months of 2010 were 84 million euros, up 102 percent. The average expectation for underlying EBITA was 74.5 million euros.

The firm has a target for annual EBITA of 230 million euros in the 2010-2012 period and it said on Thursday it expected the 2010 EBITA to be up about 25 percent on 2009.

Half-year sales rose 5.8 percent to 2.25 billion euros.

Dekker, CEO since 2000, holds a masters degree in animal production from the Wageningen University and joined the animal feed group Trouw straight from university in 1983. Trouw is now part of Nutreco.

Nutreco has a market capitalisation of 1.6 billion euros and the share gained 69 percent over the past year. It added one percent on Thursday morning. ($1=.7684 Euro) (Reporting by Marcel Michelson; Editing by Jon Loades-Carter and Andrew Callus)