Savencia SA : H1 2019 set to post strong underlying operating profit growth with flat net profit despite restructuring costs
>Milk industry equation confirmed as favourable in H1 2019 - Milk industry economics were in Savencia's favour in H1 2019. Powdered milk prices continued to rise, with an increase of close to 16% since the start of 2019. Demand continues to be underpinned by China. Butterfat prices are down by close to 30% year-on-year, despite the drop in collection in France of between 1% and 2%, with pressure from fairly adverse weather conditions. Fears of butter stock-outs have e...Savencia is a transformer of milk centered on cheese, dairy specialties, and on dairy ingredients. Co.'s operations are divided into two segments: the Cheese Products segment and the Other Dairy Products segment. In the Cheese Products segment, Co. manufactures and distributes cheeses and cheese specialties. In the Other Dairy Products segment, Co. manufactures and distributes modern butters and long-life creams both for final consumers and professional users, manufactures technical butters and specialized dairy proteins for industrial markets, and manufactures aseptically packaged products.
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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