LDC jumps after higher H1 profit, raised FY outlook

Societe Ldc SA

23/11/2023 08:20

** Shares in LDC  LOUP.PA  jump 4.6% after France's largest
poultry producer published higher H1 net profit and raised its
outlook for 2023 
    ** The share price is on track for its best day since April
2018
    ** The group on Wednesday posted H1 net result of 153.2
million euros  ($167.10 million), compared with 93.9 million
euros a year earlier, and raised its target for full-year
current operating profit to above 350 million euros
    ** H1 results exceeded expectations, with positive price
effect and a decrease of raw material, MidCap's analyst Florent
Thy-Tine's says, adding that although a good performance was
expected, the group did even better
    ** MidCap remains well above the group's "prudent" guidance
and consensus expectations, the broker says, and sees LDC'
shares still undervalued
    ** Florent Thy-Tine, notes, however, that the second-half
will be more challenging with negative price effect and a more
challenging basis effect
    ** Portzamparc also welcomes an "excellent performance"
    
    



    





($1 = 0.9168 euros)

 (Reporting by Diana Mandiá)
 ((diana.mandiaalvarez@thomsonreuters.com))