Bonduelle : Poor Q3 2018-19 sales with organic growth of -2%. Downward revision of 3% to the full-year underlying operating profit target
>Organic growth of -2% vs -1.3% estimated with -1.5% for Europe - Q3 2018-19 sales lower than our estimates by 2%. Sales of € 675.6m (vs € 690.7m estimated) were up slightly (+0.4%), underpinned by a positive forex effect (lower than expected), a scope effect (Del Monte in Canada and Lebanon in the US) both +1.2%. Organic growth is weaker-than-expected at -2% (vs -1.3% estimated) due to the decline in growth in Europe hit by the later Easter holiday in 2019.By r...Bonduelle is active in the market of processed vegetables both within and outside the European Union. Co.'s business is made up of three activities: canned, frozen and fresh vegetables (prepared and fresh-cut). It distributes its products mostly through retail channels (large supermarkets and stores) and food service sectors (restaurants, inter-company canteens). Some of Co.'s brands are Bonduelle, Cassegrain, Frudesa and Artic Gardens. Co. is organized into two geographic regions and four business segments: Bonduelle Europe Long Life (BELL), Bonduelle Fresh Europe (FRESH), Bonduelle Americas (BAM), and Bonduelle Development (BDV).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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