LDC rises on 'good' FY results, 'coherent' targets

Societe Ldc SA

30/05/2024 08:42

** Shares in Groupe LDC  LOUP.PA  rise about 4% after the
French poultry company reported strong annual results and set
new current FY targets
    ** "Very good results," also showed improving cash
generation with net cash up by 100 mln euros, MidCap Partners
says, adding results confirm its positive stance on LDC
    ** New FY targets for revenue of 6.5 bln euros  ($7 bln)
"seem coherent", the broker says
    ** "Price effects will indeed have a downward impact, but
volumes could compensate to some extent," MidCap Partners adds
    ** FY current operating result of 370 mln euros  ($399.42
million) was roughly in line with forecasts, MidCap Partners
says, and flags margin expansion helped by lower costs of raw
materials 
    ** The shares are up about 11% 
($1 = 0.9264 euros)

 (Reporting by Olivier Sorgho)
 ((Olivier.Sorgho@thomsonreuters.com))