Nutreco’s record sales
Feed giant Nutreco reported record sales in 2012 as strong growth in fish feed compensated for a more modest performance in the compound feed segment. The Netherlands-based company reported sales of €5.2 billion for the year, a rise of almost 11% when compared to 2011. Net profit was up 35% to €177 million, while earnings (EBITA) rose 13.3% to €262.1m.Completion of new plants in Brazil and Russia and acquisitions in Brazil and Ecuador strengthened the company in high growth areas. Revenues from fish feed jumped 18% on year to reach €1.89 billion, fuelled by strong demand in Norway and Chile. Earnings in fish feed were up 19.6% to €142m, mainly due to increased volumes and margins. Revenue from compound feed rose by a more modest 3% to reach €608m as higher prices offset a 4.5% drop in volumes.