LDC : Q2 2020-21 sales broadly in line, better resilience from the poultry and delicatessen business in France
>Organic growth better than anticipated of -1.6% vs -2.7%e - Q2 sales were in line with our forecasts. Sales grew by +0.5% to € 1,047.6m (€ 1,052.5m) underpinned by a less significant-than-expected scope effect of 2.3%. The organic performance was better than expected at -1.6% (vs -2.7% est.) thanks to greater resilience at the poultry France and delicatessen activities whilst the international business came in well below.By division, the trends are:Poultry...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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