LDC : Good quality H1 results. Guidance for 2023-24 underlying operating profit adjusted to over € 350m
>H1 underlying operating profit up sharply by 60% to € 193.4m vs € 163.5m. A 200bp improvement in the margin to 6.4% - Based on H1 2023-24 sales already published at € 3,022.3m (+10.2%, of which 8.2% organic), LDC has reported a 60% increase in underlying operating profit to a € 193.4m. This is well above our forecast for € 163.5m, implying a marked 200bp improvement in the margin to 6.4%. In particular this reflects a marked improvement of 50% in profitability at 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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