Danone 1Q Sales Rose; Sees Growth Accelerating from 2Q
April 17 2019 - 2:04AM
Dow Jones News
By Anthony Shevlin
Danone SA (BN.FR) said Wednesday that sales in the first quarter
rose despite tough comparisons, and that it expects growth to
accelerate further from the second quarter.
The French food company, known for its Activia and Actimel
brands, said sales came to 6.14 billion euros ($6.94 billion)
compared with EUR6.09 billion the year previous.
Sales rose 0.8% on a like-for-like basis and reported sales rose
0.9%. Like-for-like sales in Danone's waters unit rose 3.9%, the
company said.
Emmanuel Faber, chief executive of Danone, said: "We are pleased
with the momentum of the business, which will become increasingly
visible from the second quarter. This gives us every confidence
that we will meet our full-year guidance."
The company confirmed its outlook for 2019 and is aiming for
like-for-like sales growth of around 3% and a recurring operating
margin above 15%.
Danone said the sale of its Earthbound Farm business, which it
completed earlier this month, will contribute to an improvement of
the recurring operating margin in 2019 and will lead to a
nonrecurring loss of around $100 million, which will be fully
recorded in the first half.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com;
@anthony_shevlin
(END) Dow Jones Newswires
April 17, 2019 01:49 ET (05:49 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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