Danone Backs 2019 Guidance Despite 1st Half Profit Slip
25 July 2019 - 4:01PM
Dow Jones News
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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