Danone 3Q Sales Rose, Adjusts 2019 Guidance to Lower Expectations
October 18 2019 - 1:04AM
Dow Jones News
By Cristina Roca
Danone SA (BN.FR) said Friday that sales for its third quarter
grew at an accelerated pace, but adjusted its guidance to lower
expectations for its like-for-like sales growth in 2019.
The French food company said sales came to 6.42 billion euros
($7.13 billion), up from EUR6.19 billion the year previous and
better than analysts' consensus expectations of EUR6.37
billion.
On a like-for-like basis, sales rose 3%, Danone said.
Despite its sales growth accelerating compared with the previous
quarter, some of the headwinds Danone had flagged during
second-quarter reporting didn't ease in the third quarter,
management said during a conference call Friday morning. Danone
cited tough comparison bases in Europe for its waters business in
particular.
Danone widened its guidance of like-for-like sales growth toward
the lower end. It now sees like-for-like sales growing 2.5%-3%,
compared with previous guidance of 3%. For the first nine months of
the year, like-for-like sales grew 2.1%, the maker of Activia and
Alpro said.
Danone backed its target of having a recurring operating margin
above 15% for 2019.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
October 18, 2019 01:49 ET (05:49 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Danone (EU:BN)
Historical Stock Chart
From Sep 2024 to Oct 2024
Danone (EU:BN)
Historical Stock Chart
From Oct 2023 to Oct 2024