August 3, 2007

Nutreco aims to double profits by 2010

Dutch food group Nutreco expects to earn twice more on its profits by 2010 through growth, acquisitions and cost controls.

Nutreco, which produces animal and fish feed and also a major poultry processor, said that its operating profit from continuing operations rose to 47 million euros (US$64 million) on revenue up 24.6 percent at 1.68 billion euros in the first half of 2007.

Nutreco, hoping to tap into growing demand for animal and fish feed, bought Canadian rival Maple Leaf in July, adding annual revenue of about 400 million euros.