LDC : Solid FY 2018-18 results. Good performance from the delicatessen business. Cautious target for growth in underlying OP in FY 2019-20 of 5%.
>FY 2018-19 underlying operating profit in line at € 190m (+2.9%). Net profit ahead of forecasts, supported by the fall in the tax charge - Based on full-year sales of € 4,123m (+7.7% reported and +3.4% organic), LDC yesterday evening reported underlying EBIT of € 190.1m, close to forecasts (consensus € 189m and ODDO BHF € 192.2m est.). The EBIT margin was down 20bp to 4.6%. The 30bp improvement in the gross margin to 49.6% did not offset inflation in other costs (pac...Societe LDC SA is a France-based holding company engaged in food processing. The Group provides poultry products, as well as a range of delicatessen food. It has four business lines: Upstream division, which is responsible for branch management; Poultry division, engaged in the poultry, pig and cattle farming, as well as egg production and others; The Delicatessen division, offering ready-to-eat meals and snacks like pizzas, sandwiches, tarts and desserts and International division which focuses on international development with countries specific strategies. It markets its products under various brands, including Le Gaulois, Loue and Traditions d'Asie.
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