Societe LDC slips as lower poultry prices weigh on organic sales

Societe Ldc SA

05/07/2024 09:20

** French poultry specialist Societe LDC  LOUP.PA  shares
fall about 3% as declining poultry prices in France weigh on Q1
organic sales in the country 
    ** Q1 organic sales for poultry in France, including the
upstream division, decline 3.3% y/y, LDC says, to 1.06 bln euros
 ($1.15 bln), despite a rise in volumes
    ** "This decline is mainly due to negative price effects,"
Midcap Partners says, adding volume increase was expected
    ** The broker also points to a decline in international
sales due to pressure on duck prices and a challenging base
effect 
    ** Portzamparc says Q1 prices declined by 9.3% in France and
by 9.5% internationally 
    ** At the group level, Q1 reported sales are virtually
stable y/y at 1.52 bln euros, in line with Midcap Partners'
expectations of 1.51 bln euros
    ** The stock has also had a strong run into the results, and
up until Thursday's close, it rose almost 7% this week, with
Friday's move decreasing the weekly gains to about 3.3%
    ** YTD, LDC shares are up 5.4%


($1 = 0.9237 euros)

 (Reporting by Leo Marchandon)
 ((Leo.marchandon@thomsonreuters.com))