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Danone to buy back shares after quarterly sales gain
Groupe Danone has reported a solid 3rd quarter 2010 growth in volumes and sales, with full-year targets 2010 confirmed.
Commenting on Danone’s third quarter performance, Chairman and CEO Franck Riboud said: “Our third-quarter results confirm the strong performance we reported in the previous months of 2010 and the solidity of Danone’s business model. We are keeping up the pace and expanding our four business lines in all parts of the world. These positive results, achieved in the face of difficult economic conditions marked by weak consumer demand in Europe and rising raw material prices, enable us to confirm our full-year targets for growth and value creation. They also provide added support for our decision to continue investing in the emerging markets that are our priorities as drivers for both present and future growth.”
Highlights
- Sales increased 6.9% in both the 3rd quarter and in the first nine months
- Volumes rose 6.3% in the 3rd quarter and 8.6% in the first nine months
- Continued momentum for the Fresh Dairy Products, Baby Nutrition and Medical Nutrition divisions, reporting sales growth of 5.5%, 8.6% and 8.4%, respectively
- Vigorous growth in the Waters division, with sales up 8.7% in the 3rd quarter, partly due to favourable weather in Japan and Europe
- Full year targets confirmed, calling for sales growth of at least 6%, stable operating margin and a rise of at least 10% in cash flow from operations
Source: Danone
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