PARIS (dpa-AFX) - French food company Danone SA (DANOY.PK) reported Tuesday that its first-quarter consolidated sales were 5.66 billion euros, down 9.4 percent from 5.66 billion euros last year.
Sales were down 3.3 percent on a like-for-like basis, reflecting Covid-related headwinds. Volume was down 3.7 percent.
In terms of regional dynamics, Europe and North America sales declined 2.8 percent on a like-for-like basis.
Rest of the World sales decreased 4.2 percent, with China, Latin America, and Africa experiencing continued pressure in the quarter.
Looking ahead, Danone expects to be back to like-for-like growth in second quarter, and to return to profitable growth in the second half of 2021.
Further, the company reiterated fiscal 2021 outlook. Full-year recurring operating margin is expected to be broadly in line with 2020.
Copyright RTT News/dpa-AFX
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