Danone forecasts higher profitability on cost control
The French yoghurt maker expects sale growth of 3% to 5% this year
The trading operating margin should widen by 50 to 60 basis points in 2016 on a like-for-like basis, the French yoghurt maker said in an unscheduled statement on Tuesday. The company previously targeted “solid improvement.” Danone reiterated its forecast for comparable sales growth of three per cent to five per cent this year. First-half results are due on July 28.
“This is positive news as investors were concerned about Danone’s ability to improve margins and maintain its...
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