Danone's 2018 Net Profit and Sales Fell; Targets 2019 Growth

Date : 02/19/2019 @ 7:02AM
Source : Dow Jones News
Stock : Danone (QX) (DANOY)
Quote : 14.5483  -0.7417 (-4.85%) @ 8:59PM
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Danone's 2018 Net Profit and Sales Fell; Targets 2019 Growth

Danone (EU:BN)
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   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 anthony.shevlin@dowjones.com; @anthony_shevlin


(END) Dow Jones Newswires

February 19, 2019 01:47 ET (06:47 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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