Danone SA reported faster-than-expected revenue growth as price hikes compensated for a drop in the volume of products sold.
Sales rose 6.4% on a like-for-like basis in the second quarter, the French yogurt maker said Wednesday. Analysts expected an increase of 5.7%. The water business grew the fastest out of its three divisions, led by brands such as Evian.
The company said it expects full-year revenue growth in the upper end of its range of 4% to 6% as volumes improve throughout the year. Analysts are forecasting 5.9% growth.
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