Danone reports Q3 consolidated sales EUR6.4B vs. EUR6.19B last year
Reports Q3 consolidated sales EUR6.4B vs. EUR6.19B last year, up 3% on a like-for-like basis. Reported sales were up +3.7%, including +0.4% from the organic contribution of Argentina to growth, a negative scope effect (-1.3%), primarily linked to the deconsolidation from April 1st of Earthbound Farm. Currencies had a positive impact, +1.6%, mainly driven by the appreciation of the US dollar. Emmanuel Faber, Danone's Chairman and CEO, said in a statement: "Our business continues to demonstrate its resilience by delivering acceleration in revenue growth in Q3. The return to strong growth momentum for Specialized Nutrition in Asia is a highlight, reversing the trend reported last year. Across Danone, many of our initiatives aimed at quality of growth, product innovation, price-mix enhancement and revenue management discipline are gaining further traction with positive outcomes for our consumers and customers. Mindful of growing geopolitical uncertainties and softness in some markets, we continue to transform our business at pace so that it is well-positioned to respond to market needs. This keeps on track to deliver sales growth acceleration, steady improvement in recurring operating margin and strong recurring EPS expansion."