Bonduelle: Outlook uncertainty weighs

Bonduelle SA

06/08/2019 09:54

** Shares in French vegetable processing and distribution
company Bonduelle  BOND.PA  fall 5% and are on track for their
worst day since Feb.
    ** The company on Monday confirmed its 2018/2019 operating
profitability target but said that it includes the compensation
for the loss incurred by the contamination claim  urn:newsml:reuters.com:*:nNRA9dyz75
    ** Portzamparc and Midcap Partners note that uncertainty
remains around the forecast as insurance company HDI recently
informed the group that it refuses to cover the company's losses
due to lettuce contamination by the E.coli bacteria 
    ** Portzamparc says that at this stage it "withdraws 8
million euros from its 2018-19 recurring operating result
forecast", also cutting the company's rating to "reduce" from
"hold" 
    ** Midcap Partners adds that the outlook for 2020 "is still
hard to read", with management pointing out a difficult crop
start caused by record heat waves, strong competition and
inflation

    

 ((Charles.regnier@thomsonreuters.com))