Danone: raises growth target for 2023
(CercleFinance.com) - Danone now expects LFL sales growth of +6% to +7% for the current year, up from +4% to +6% previously, while confirming that it forecasts a moderate improvement in its operating margin before non-recurrent items.
In Q3 2023, the food group's sales fell by 5.8% to E6.91bn as reported, penalised by significant negative FX (-7.4%) and a poor consolidation scope effect (-6.2%).
However, LFL sales rose 6.2%, boosted by a 6.6% positive price effect and a sequential improvement in the volume/mix effect to -0.3%, driven by the EDP division (dairy and essential plant products).
Copyright (c) 2023 CercleFinance.com. All rights reserved.
In Q3 2023, the food group's sales fell by 5.8% to E6.91bn as reported, penalised by significant negative FX (-7.4%) and a poor consolidation scope effect (-6.2%).
However, LFL sales rose 6.2%, boosted by a 6.6% positive price effect and a sequential improvement in the volume/mix effect to -0.3%, driven by the EDP division (dairy and essential plant products).
Copyright (c) 2023 CercleFinance.com. All rights reserved.