Danone cut its 2019 sales growth outlook after missing third-quarter sales expectations on Friday, sending shares in the French food group down 7 per cent.
Danone is now aiming for 2019 group like-for-like sales growth of 2.5 per cent-3 per cent against a previous forecast of around 3 per cent. Danone, whose yogurt brands include Actimel and Activia, had third-quarter sales of 6.418 billion euros .This marked a like-for-like rise of 3.0 per cent that was below analysts’ expectations for 3.8 per cent growth, but was an acceleration from 2.5 per cent growth in the second quarter.China contributes about 30 per cent of sales to the Danone’s Early Life Nutrition business, which makes infant formula and general baby food products.
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