Feeling the churn

17 April 2019 By Dasha Afanasieva Follow @dasha_reuters

The 48 bln euro yogurt maker’s first-quarter sales rose 0.8 pct organically, in line with expectations. Danone expects that to accelerate, but missteps could threaten the company’s full-year target of 3 percent. Any shortfall could encourage attention from activists.

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French yogurt maker Danone said on April 17 that like-for-like sales rose 0.8 percent from a year earlier to 6.1 billion euros in the quarter ending March 31, broadly in line with analyst expectations.

The sales volumes in its dairy and plant product unit fell 3.8 percent and specialised nutrition volume declined 0.9 percent, while water volume rose 1 percent compared to the first quarter of 2018.

The 48 billion euro company said it expects revenue growth to accelerate from the second quarter and confirmed its guidance of 3 percent like-for-like sales growth for the full year 2019.

Danone shares fell around 2 percent to 68.28 euros at 0857 GMT on April 17.

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