Groupe Danone sales up 19% in quarter
April 14, 2008
by FoodBusinessNews.net Staff
PARIS — Thanks to a boost from the Baby and Medical Nutrition businesses, Groupe Danone posted a 19% increase in sales during the first quarter of 2008. Sales for the quarter were €3,760 million ($5,958 million), which compared with €3,167 million during the same quarter of the previous year.
"The first quarter of 2008 has witnessed a very solid financial performance across all our divisions," said Franck Riboud, chairman and chief executive officer. "We are specifically pleased with the developments in our two new divisions Baby Nutrition and Medical Nutrition as their particular strong performances illustrate the quality and the speed of the integration process since the completion of the Numico acquisition. Based on the group’s overall performance in the first three months of the year, we are confident to achieve our targets for 2008 both in terms of growth as well as profitability."
The Fresh Dairy segment had sales of €2,179 million ($3,453 million), up 7% from €2,035 million during the same quarter of the previous year. The Baby Nutrition and Medical Nutrition segments grew 19% and 15% respectively on a like-for-like basis.
For the full-year 2008, the company expects sale growth of between 8 and 10% and underlying earnings per share growth of at least 15%.