Bonduelle slumps to mid-2009 lows as inflation hits guidance

Bonduelle SA

12/07/2022 09:13

** Shares in Bonduelle  BOND.PA  fall 9.6% after the French
plant-based food company issued a profit warning on its yearly
growth now expected below previously communicated targets 
    ** The group sees FY revenue, operating margin below the
previous targets of +3% and +3.6% respectively due to inflation
and a slower-than-expected recovery of its fresh North American
activities
    ** Midcap Partners ("hold") says the announcement is only
partially surprising and confirms its cautious stance on the
company
    ** "Uncertainty still reigns over the company as inflation
could still impact the start of the next FY," it adds
    ** The broker cuts its FY EPS forecast by around 5%
    ** Shares are on track for their worst day since mid-March
2020, while share price is at its lowest in about 13 years

 (Reporting by Olivier Cherfan)
 ((olivier.cherfan@thomsonreuters.com))