Danone Raises 2022 Sales View as Pricing Drives 3Q Growth
October 27 2022 - 11:24AM
Dow Jones News
By Joshua Kirby
Danone SA on Thursday raised its guidance for 2022, as
third-quarter sales rose above expectations thanks to higher
prices.
The French producer of yoghurts, bottled water and
infant-nutrition products made sales of 7.33 billion euros ($7.39
billion) between July and September, 9.5% higher like-for-like than
in the same period last year. This beat analysts' expectations for
quarterly sales of EUR7.05 billion, according to a company-compiled
poll of estimates.
Pricing effects led the growth, rising 11% on year, compensating
a slight decline in volumes, Danone said.
Danone raised its outlook for the remainder of the year on the
back of the results. The company now sees like-for-like sales
growth of 7%-8% for the year, compared with 5%-6% previously. A
recurring operating margin above 12% remains the company's target
for the year, it said.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
October 27, 2022 12:09 ET (16:09 GMT)
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