Like for like revenue increased 8.5% year-on-year – the fastest growth in three years. Emerging markets again proved key for the company’s performance, with sales in Europe up just 3.7%. By contrast, the Asian business grew by 18% and the rest of the world by almost 15%.
Franck Riboud, chairman and CEO, said: “Danone teams have done a truly remarkable job over the past few quarters, reflected in the steep 8.5% rise in our net sales for Q1 2011. All four business lines and all the regions we operate in contributed to this acceleration, benefiting from very healthy pace in volumes. Waters and baby nutrition put in an exceptionally good showing, reporting growth of over 10% this quarter.
“Since January, we have begun integrating Danone-Unimilk, our joint venture in Russia, with several initiatives already under way. These include portfolio segmentation and trading-up, but also measures to increase productivity and realise synergies. Continued progress here will remain a priority in the months ahead. ?
“The competitive management of rising raw material prices will also be a priority for the rest of the year. In an environment which remains complex our current sales trend allows us to stand by our targets”.
Source: Groupe Danone
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