June 17, 2008
French feed cooperative nearly doubles profit in 2007
Le Gouessant, feed cooperative from France, reported that it nearly doubled its profits last year amid high prices for raw materials.
The growth in the company's profits was attributed to the resumption of Nutri Ouest in nearby Goven, a company selling cattle feed to 3,000 customers.
In 2007, Le Gouessant achieved a turnover of EUR438 million and with EUR5.26 million net profit almost doubled that of 2006, which was at EUR2.68 million.
Company officials said that the good results should benefit the French sectors through various supports in the current production crisis and by a rebate made to members of cooperatives.
US$1 = EUR0.64 as of June 17, 2008