Toupargel Groupe : H1 results shy of our forecasts – target price lowered to € 2.8 (vs € 3.0)
>H1 sales: € 123.3m (vs € 128.7m est.) H1 underlying operating profit: -€ 7.0m (vs. -€ 4.5m est.) - Yesterday evening, Toupargel reported interim results shy of our forecasts. Sales were down 8.8% to € 123.3m (vs -4.9% est. and € 128.7m est.) with the ongoing contraction in traditional channels not offset by the rise in e-commerce. Margins narrowed by 140bp, giving an underlying operating margin of -5.7% and underlying operating profit of -€ 7.0m (vs -3.5% est. an...oupargel is engaged in home delivery of frozen food products, fresh foods and groceries products in France. Co. provides its services to towns of fewer than 10,000 inhabitants, which represent 11 million households, primarily in rural areas. Co.'s activities can be divided into two businesses: Toupargel focuses on home delivery of frozen foods, and Place du Marche takes care of home delivery of fresh foods and groceries in the whole Eastern half of France. Co.'s product range comprises national brands such as Charal, Findus, Bonduelle, Weight Watchers, Carte d'Or Haagen-Dazs, and Co.'s own-brand products. Co. also developed an e-commerce branch to increase its customer base.
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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