Danone: cuts growth target for 2019
(CercleFinance.com) - On its trading update, Danone says that for 2019 it now expects FY 2019 sales growth of between 2.
5% and 3% on a like-for-like basis (vs. a previous estimate of around 3%), with an underlying operating margin of over 15% (target unchanged).
The agri-food group has announced Q3 sales of 6.4 billion euros, up 3.7% as reported and up 3% like-for-like, with the value effect (+4.6%) remaining the main growth driver.
This value effect was positive at all divisions, driven by both a price effect and a mix effect. Declining by 1.6%, volumes were affected by a slowdown in demand for water in Europe and dairy and vegetable-based products in Russia.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
5% and 3% on a like-for-like basis (vs. a previous estimate of around 3%), with an underlying operating margin of over 15% (target unchanged).
The agri-food group has announced Q3 sales of 6.4 billion euros, up 3.7% as reported and up 3% like-for-like, with the value effect (+4.6%) remaining the main growth driver.
This value effect was positive at all divisions, driven by both a price effect and a mix effect. Declining by 1.6%, volumes were affected by a slowdown in demand for water in Europe and dairy and vegetable-based products in Russia.
Copyright (c) 2019 CercleFinance.com. All rights reserved.