Danone Profit Lifted by Water Growth -- Earnings Review
2018年2月16日 - 11:38PM
Dow Jones News
By Anthony Shevlin
Danone SA (BN.FR) said Friday that 2017 net profit rose on the
back of strong growth in its waters and specialized nutrition
divisions. The company says it is on track to accelerate toward its
2020 goals and targets double-digit recurring earnings per share
growth in 2018 at constant exchange rates.
SALES: Danone posted full-year sales of 24.68 billion euros
($30.80 billion), in line with analyst expectations of EUR24.71
billion. Sales in the fourth quarter of EUR6.10 billion were also
in line with expectations.
EARNINGS: Danone's net profit in 2017 was EUR2.45 billion,
compared with EUR1.72 billion the year previous. Analysts had
expected net profit of EUR2.14 billion.
WHAT WE WATCHED
GROWTH: Danone's like-for-like organic sales growth, which
reflects the combined performance of Danone and WhiteWave, was in
line with guidance at 2.5%, say analysts at Bernstein. Danone's
waters division grew by over 10% in the fourth quarter on a
like-for-like basis, and the company's specialized nutrition
division rose 8.4% in the fourth quarter, with strong performance
in China.
DAIRY AND PLANT-BASED PORTFOLIO: Analysts at Bryan Garnier say
there are signs of improvement in Danone's dairy division, despite
sales declining again in the fourth quarter. Dairy sales in North
America were down 0.4%, but improved compared with the 2.2% decline
in the previous quarter thanks to better trends in plant-based
products. International dairy sales fell 0.3% but Europe showed a
gradual improvement with signs of progress in Activia and Alpro,
says Bryan Garnier.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com
(END) Dow Jones Newswires
February 16, 2018 09:23 ET (14:23 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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