LDC : 2023-24 results beat expectations. Guidance for the 2024-25 margin is conservative due to the current competitive context
>Underlying operating profit of € 370.3m with a 90bp improvement in the margin to 6% vs 5.8%e and attributable net profit up by 35% to € 304m vs cons. at € 279m - FY 2023-24 underlying operating profit was up 23.5% to € 370.3m and 2% above forecasts (cons. at € 363m and € 362m est.). The operating margin improved 90bp to 6% (vs 5.8%e) primarily thanks to improved profitability at international activities.Underlying operating profit at the poultry France division...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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