Danone Lifts Sales Growth Guidance on Improving Volume, Mix
26 10월 2023 - 3:08PM
Dow Jones News
By Giulia Petroni
Danone raised its full-year sales growth guidance after
recording a sequential improvement in volume/mix in sales in the
third quarter.
The French producer of yoghurts, bottled water and
infant-nutrition products said Thursday that it now expects
like-for-like sales growth between 6% and 7% in 2023 from previous
expectations of between 4% and 6%.
It also said it expects to return to a positive volume/mix
territory before the end of the year, and confirmed it sees a
moderate improvement in the recurring operating margin.
In the third quarter, Danone posted sales of 6.91 billion euros
($7.30 billion), down from EUR7.33 billion in the year earlier,
partly due to the depreciation of the majority of currencies
against the euro. On a like-for-like basis, sales grew 6.2%, with
volume/mix at minus 0.3% from minus 2.3% in the second quarter.
Analysts had forecast sales of EUR6.90 billion and like-for-like
growth of 4.7%, according to a company-compiled consensus.
"This quarter is the seventh consecutive quarter of delivery,"
said Chief Executive Antoine de Saint-Affrique. "We continue to
view our future with confidence, despite a challenging
environment."
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
October 26, 2023 01:53 ET (05:53 GMT)
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