Danone H1 Net Income Surges

29-Jul-2016 - France

French dairy giant Danone SA (DANOY.PK) Thursday confirmed its like-for-like sales growth target for the full year, while it reported a surge in its net income-Group share, for the first half of the year. Sales were down 3 percent on reported basis, but were up 3.8 percent on like-for-like basis.

For the half year, net income, Group share, surged to 880 million euros from 416 million euros a year ago. Earnings per share jumped to 1.43 euros from 0.69 euros.

Recurring net income, Group share, totaled 935 million euros, compared to 831 million euros, and recurring earnings per share rose to 1.52 euros from 1.37 euros last year.

Sales for the first half slid 3 percent to 11.052 billion euros. Like-for-like sales, however, rose 3.8 percent, with 0.9 percent growth in volume.

Looking ahead to the full year, Danone said it is confirming its like-for-like sales growth guidance within a range of +3% to +5%.(dpa)

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