ForFarmers: Volume slides in Q1, shares hit two-year low

ForFarmers NV

02/05/2019 08:49

** Shares in Dutch feed company ForFarmers  FFARM.AS  fall
8.4 pct to a two-year low
    ** The company said it expects a 30 pct to 35 pct decline in
underlying EBITDA for H1
    ** "As expected, the development of underlying EBITDA in
1Q19 is disappointing, although in line with expectation for
1H19", says KBC Securities in a note
    ** The broker says the positive contribution from
acquisitions could not compensate the like-for-like decline in
ForFarmers results
    ** Operating costs in Q1 increased more than gross profit,
due to the acquisitions, while higher energy and logistic costs
as well as integration costs from acquisitions weighed on
like-for-like results, adds the note
    ** The stock is the second worst performer on AEX All-Share
index  .AAX 

 ((RM: clement.martinot.thomsonreuters.com@reuters.net))