LDC: down on lowered annual target

(CercleFinance.com) - LDC shares are down over 2% after the agrifood group lowered its sales forecast for 2024-25 to over E6.
2bn, compared with an initial target of E6.5bn.

Justifying this lowering by delays in the integration of Groupe Routhiau and Groupe Pierre Martinet, it nevertheless confirms its target of returning to a normative current operating margin of around 5%.

This perimeter effect weighed on LDC's Q2 sales, which fell by 2.7% to just under E1.47bn, i.e. 4% below Oddo BHF's expectations.

Sales fell by 4.1% in organic terms, slightly below the broker's estimate of -3%, due to weaker upstream activity, the broker also notes, which is slightly adjusting its EPS while maintaining an "outperform" rating on the stock.


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