LDC : Unsurprising H1 2018/19 results. Cautious full-year guidance: slight decline in 2018/19 underlying operating profit
>H1 underl. operating profit of € 91.1m (-2.3%), due to higher input costs - LDC yesterday evening reported H1 underlying operating profit down -2.3% at € 91.1m on reported sales of € 1.942bn (+4.9% o/w +2.7% l-f-l), in line with our forecast of € 89.9m; the operating margin contracted by 30bp to 4.7%, under pressure from a less favourable product mix and higher costs (raw materials, logistics and energy).Divisional trends are as follows:Poultry France under...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.
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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