Viscofan rises after better-than-expected 9-month net profit

Viscofan SA

30/10/2023 08:37

** Shares in Viscofan  VIS.MC  rise around 2.5% after the
meat packaging maker's net profit of 100.8 million euros($106.48
million) in the nine-month period beat Bloomberg consensus 
    ** Though the net result was 4.1% lower than a year earlier,
it was still higher than the 98 million euros forecast by
Bloomberg, Capital Markets says
    ** The brokerage adds "at first glance" the fact that the
net 9-month profit came in above expectations is positive for
the stock
    ** Sabadell also notes that though the company's lowered its
2023 guidance, the firm expects the trend to be reversed in
2024, keeping its 2025 targets 
    ** Including Monday's rise, Viscofan's stock has dropped by
11.4% YTD



($1 = 0.9467 euros)

 (Reporting by Jakub Olesiuk)
 ((jakub.olesiuk@thomsonreuters.com))