Margarita Louis-Dreyfus has been pulling cash out of the company to repay loans needed to fund the buyout of other family membersGeneva — Billionaire heiress Margarita Louis-Dreyfus continued to squeeze agricultural trader Louis Dreyfus for cash, even as global trade tensions saw first-half profit plunge.
The payout came as the US trade war with China cut profit at the 168-year-old family business, with the spread of African swine fever in Asia hurting soybean trading results. Things will not turn around until 2020, the company said. The dividend payment cut the equity value of Louis Dreyfus, one of the world’s top agricultural commodities traders, to $4.6bn from $4.9bn at the end of 2018. The trading house has struggled in recent years amid bumper crops and a lack of price volatility that has crimped trading profits.
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