Accounts for 2015 show that the French meat processor, Elivia, in which Dawn Meats took a 49% stake last year has returned a small profit for the first time since 2009, amid in-depth restructuring.

Elivia reported sales of just over €716m last year, 86% of which was made in France and 14% abroad. The figure cannot be compared with previous years as the group’s parent company amalgamated seven of its subsidiaries in 2015 as part of an ongoing reorganisation effort.

The enlarged company halved its operating loss to just under €670,000. Elivia had posted net losses for the previous six years.

The company had nearly 2,000 employees at the end of 2015 and remained under the majority control of French co-op Terrena. Elivia slaughters in excess of 500,000 head of cattle per year in France. The financial report did not specify whether Dawn Meats had since then used its option to increase the 49% stake it acquired last year, up to an agreed maximum of 70% by 2019.