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Dreyfus chairwoman sees revenue rise to around $60 bln this year
October 27, 2013 / 12:01 PM / 4 years ago

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

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

“We have expanded trading with considerably more production capacity, which is a unique combination. That has enabled this rapid growth,” Louis-Dreyfus, chairwoman of the traditionally secretive privately owned company, is quoted as saying in Neue Zuercher Zeitung am Sonntag.

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

Louis-Dreyfus, the widow of former head Robert Louis-Dreyfus, also said the family-controlled Akira Trust wants to increase its stake from roughly 65 percent currently by buying out family members not in the trust.

“As many as possible,” Louis-Dreyfus says in response to a question on how many shares the family trust is prepared to buy.

“It’s defined how we - and that we - can buy additional shares. We are prepared to do so at any time,” she said.

Earlier this month Dreyfus, a 160-year-old company with French roots and trading operations in Switzerland, disclosed a 13 percent drop in first-half net profit, citing a drought in the United States.

Last month, the commodities trader named Serge Schoen as the supervisory board chairman of its commodities holding, a leading strategy role. The executive has in past said Dreyfus might need to 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 dominate trade in agricultural products which also comprises Archer Daniels Midland, Bunge and Cargill, plans to invest in assets ranging from orange groves to sugar refiners to expand, according to a memo seen by Reuters in July.

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