Another strong quarter
La Doria (MI:LDO) reported another set of strong results. Its overarching objective is to reduce the volatility of the business and to improve visibility. To that end, the acquisition of Pa.fi.al is strategically very helpful. As disclosed at the H1 results, fears of an abundant tomato crop in the early part of the campaign resulted in lower sales prices being achieved for new contracts, and hence 2016 is likely to see a small reduction in EBITDA. We are leaving our forecasts unchanged.
Strong Q3 results
La Doria reported another strong quarter. Q3 sales were up 20.3% vs the prior year. During 9M15, acquisitions contributed 12% to revenue growth and organic growth was 1.4%. Both the international and the domestic markets exhibited strong growth, and in terms of product segments the pulses and vegetables line and the red line were the main contributors to organic growth.
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