DANOY Danone (QX)

By Giulia Petroni

Danone SA lifted its organic sales growth guidance for the year after reporting a rise in sales volumes in the first quarter driven by price increases.

The French food company on Wednesday said that quarterly sales came in at 6.96 billion euros ($7.66 billion) compared with EUR6.24 billion a year earlier. Sales rose 10.5% on a like-for-like basis, with a 10.3% contribution from price and a 0.2% contribution from volume/mix.

Danone's waters and specialized nutrition divisions both registered a sales increase of 12% during the quarter. The essential dairy and plant-based business reported a 9.3% organic rise in quarterly sales.

Looking at the full year, Danone said it now expects organic sales growth between 4% and 6%, from previous expectations of between 3% and 5%. It confirmed it sees a moderate improvement in the recurring operating margin.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

April 26, 2023 01:47 ET (05:47 GMT)

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