Danone: Credit Suisse confirms rating ahead of Q1 sales

(CercleFinance.com) - Danone will announce its Q1 sales before the market opens tomorrow.


Credit Suisse expects Q1 LFL sales to decline by -4.0% (vs. consensus -3.7%).

"We anticipate Q1 will continue to have been impacted by the contraction in out-of-home (OOH) consumption (particularly of Water; CSe -12%)... only partially offset by elevated at-home food consumption (eg coffee creamers and organic milk; CSe EDP +1%)," the broker says.

"FY21 outlook is for return to profitable growth in H2 and operating profit margin broadly stable at 14% (consensus 13.9%)," Credit Suisse added.


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