LDC : A high-quality Q2, underpinned by price effects. Resilience anticipated on the underlying operating margin in H1
>Robust organic sales growth of 15.7%, driven by price increases - Yesterday evening, LDC published Q2 2022-23 sales, up +16.1% to € 1,393.5m, beating our forecast by 11% (€ 1,250m est.). Organic growth was 15.7% (vs +10.4 in Q1 and 4%e), driven by a strong price mix both in France and internationally. Due to the episode of avian flu in France, volumes were down 5.8%, although this was less marked than expected thanks to the resilience of consumption internationally ...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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