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Danone revenue down 1.7 pct in Q3
Source: Agencies |
October 23, 2009, Friday
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FRANCE'S Danone SA said today its revenue fell 1.7 percent in the third quarter as foreign sales of its bottled water and yogurt suffered from some currencies' weakness against the euro.
Danone, which bottles Evian water and produces Activia yogurt, reported revenue of €3.78 billion (US$5.7 billion) in the July-September period, down from €3.85 billion a year earlier.
In a statement, Danone said weakness in the Mexican peso, the British pound, the Russian rubble and Polish zloty was largely to blame for the decline.
Danone said that revenue rose 4.1 percent in the quarter on a comparable basis, excluding the foreign currency impact as well as the effect of the sale of one of the drinks businesses last year.
Danone's Fresh Dairy business, its largest division, reported sales rose 2.3 percent in the third quarter on a comparable basis. Higher volumes offset lower prices during the quarter, Danone said, thanks to consumer price cuts and intensified ad campaigns aimed at turning around shrinking sales of yogurts and other dairy treats.
Sales at the bottled water business grew 4.6 percent on a comparable basis in the third quarter, as strong demand in emerging markets like Indonesia, Mexico and Argentina offset declining demand in developed countries.
The third quarter performance left Danone's revenue for the first nine months of the year down 2.1 percent at €11.3 billion. Danone said it is on track to achieve targeted improvements in earnings this year, including close to 4 percent growth in sales in the second half and an increase of over 10 percent in earnings per share, both on a like-for-like basis.
Danone, which bottles Evian water and produces Activia yogurt, reported revenue of €3.78 billion (US$5.7 billion) in the July-September period, down from €3.85 billion a year earlier.
In a statement, Danone said weakness in the Mexican peso, the British pound, the Russian rubble and Polish zloty was largely to blame for the decline.
Danone said that revenue rose 4.1 percent in the quarter on a comparable basis, excluding the foreign currency impact as well as the effect of the sale of one of the drinks businesses last year.
Danone's Fresh Dairy business, its largest division, reported sales rose 2.3 percent in the third quarter on a comparable basis. Higher volumes offset lower prices during the quarter, Danone said, thanks to consumer price cuts and intensified ad campaigns aimed at turning around shrinking sales of yogurts and other dairy treats.
Sales at the bottled water business grew 4.6 percent on a comparable basis in the third quarter, as strong demand in emerging markets like Indonesia, Mexico and Argentina offset declining demand in developed countries.
The third quarter performance left Danone's revenue for the first nine months of the year down 2.1 percent at €11.3 billion. Danone said it is on track to achieve targeted improvements in earnings this year, including close to 4 percent growth in sales in the second half and an increase of over 10 percent in earnings per share, both on a like-for-like basis.
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