Danone Sales Gain as Yogurt Maker Vows to Boost Volumes
August 4, 2023 | 1 min to read
Danone SA reported a 6.4% increase in second-quarter revenue, exceeding analysts' expectations of 5.7%. Price hikes offset declining product volumes, with the water division, particularly brands like Evian, leading growth. The company anticipates full-year revenue growth at the upper end of 4% to 6%, aligning with analyst forecasts of 5.9% as volumes are expected to improve throughout the year.
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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