Danone Backs 2019 Guidance Despite 1st Half Profit Slip

Date : 07/25/2019 @ 6:01AM
Source : Dow Jones News
Stock : Danone (QX) (DANOY)
Quote : 15.36  -0.12 (-0.78%) @ 9:52PM
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Danone Backs 2019 Guidance Despite 1st Half Profit Slip

Danone (EU:BN)
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   By Anthony Shevlin 

Danone SA (BN.FR) said Thursday that net profit for the first half fell slightly but the company backed its full-year outlook.

The French company said net profit for the period was 1.04 billion euros ($1.16 billion) compared with EUR1.20 billion the year prior.

Sales in the first half rose 1.7% on a like-for-like basis to EUR12.65 billion.

Second-quarter sales were EUR6.50 billion, the company said.

Danone backed its guidance for the year and expects like-for-like sales growth of around 3% and a recurring operating margin above 15%.

Danone Chief Executive Emmanuel Faber said: "We are well on track for our 2020 objectives. With unchanged expectations for the full year, I am confident that the improved fundamentals of our business will continue to drive top-line growth acceleration and margin expansion throughout rest of the year."


Write to Anthony Shevlin at anthony.shevlin@dowjones.com; @anthony_shevlin


(END) Dow Jones Newswires

July 25, 2019 01:46 ET (05:46 GMT)

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

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