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2 Years : From Feb 2018 to Feb 2020
By Anthony Shevlin
Danone SA (BN.FR) said Tuesday that net profit and sales for 2018 fell slightly, but the company sees like-for-like sales growing in the year ahead.
The French food company said net profit for the year was 2.35 billion euros ($2.66 billion), compared with EUR2.45 billion the year previous. An analyst consensus provided by Danone saw net profit at EUR2.28 billion.
Full-year sales fell 0.7% on a reported basis to EUR24.65 billion, but like-for-like sales grew 2.9%. Sales for 2018 were in line with a consensus provided by Danone.
Sales in the fourth quarter were EUR6.01 billion compared with EUR6.14 billion the year previous.
Danone raised its dividend to EUR1.94 a share from EUR1.90 a share.
For 2019, Danone targets like-for-like sales growth of around 3% and a recurring operating margin above 15%.
Danone sees mid-to-high single-digit inflation in the costs of raw and packaging materials for the year ahead.
Write to Anthony Shevlin at email@example.com; @anthony_shevlin
(END) Dow Jones Newswires
February 19, 2019 01:47 ET (06:47 GMT)
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