Societe LDC slips as lower poultry prices weigh on organic sales
** 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
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