LDC : Better-than-expected interim results. Greater caution on H2 in a context of inflation and evolving health situation
>An H1 underlying operating profit of € 103.1m vs € 101.6m est. and slight increase of 10bp in the margin - Last night, LDC published H1 2021-22 results that exceeded our expectations due to improved profitability in the poultry France division excl. upstream and delicatessen activities. On the basis of H1 sales of € 2,396.1m (+12.9% of which 10.9% on an organic basis), underlying operating profit totalled € 103.1m vs € 101.6m est., implying a margin of 4.3%, up sligh...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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