CHAPPES, FRANCE — Limagrain reported on Nov. 7 net profit of €88 million for the 2011-12 fiscal year, compared to €92 million last year, which included a windfall profit of €30 million as a result of the sale of equity securities in China.
Consolidated sales totaled €1.78 billion for the year, compared with €1.55 billion in the last fiscal year.
Investment in research rose 13% to €165 million compared with €157 million.
"In the current difficult economic context, Limagrain has stayed on course and the increase of around 15% in our sales demonstrates this. Incorporating Brossard into the Bakery Products' Division has been a great success,” said Daniel Cheron, chief executive officer for Limagrain. “The group is continuing with its international development through sites in new areas, in particular in Brazil with projects involving seeds as well as cereal products and in India with the acquisition of Bisco for field seeds and Century, a specialist in vegetable seeds."