Danone Sees First Quarter Sales Beat Forecasts
French food group Danone kept its guidance for a further rise in profits and sales this year after first quarter underlying sales growth beat market expectations, led by strong demand for baby formula products in China.
Danone reported a 4.9 percent rise in first-quarter underlying sales to 6.085 billion euros ($7.53 billion).
The quarterly performance was above a company-compiled median forecast, based on 22 analyst estimates, of 3.9 percent like-for-like growth in group sales.
Danone, the world's largest yoghurt maker whose brands include Actimel and Activia, said its dairy business in Europe was improving although sales remained slightly negative.
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