LDC : Earnings higher than expected. Better outlook in prospect. Rating upgraded to Outperform with a target price of € 116
>Underlying operating profit down 3.7% at € 194m, beating expectations and the guidance. Good performance from caterer segment - LDC yesterday evening reported better-than-expected 2020-21 results. On already-reported sales of € 4.429bn (-1.4% l-f-l), underlying EBIT came in just 3.7% lower at € 194m, which is 4-5% better than our expectations and those of the consensus and ahead of the guidance for a decline of between 5% and 10%. The nice surprise was provided by th...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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