FRANCE: Danone 2003 figures, growth in 2004
Danone predicts growth for 2004 after reporting higher 2003 operating results. The group, whose operating profit last year reached €1.604 billion, up from €1.590 billion year-on-year, forecasts full year operating margin growth for 2004 of 40 basis points.
Net profit fell to €839m for 2003, a drop of 34.6% from €1.28 billion year-on-year. However, taking out Danone's one-off gain from the 2002 sale of European beer activities to Scottish & Newcastle, net profit actually rose by 1.3%. Excluding the S&N sale, earnings per share for the French company rose by 5.6% to €6.45. Sales for the year fell to €13.131 billion from €13.555 billion in 2002. Fourth Quarter sales, however, grew by 4.7%.
Danone expects 2004 organic sales to grow by between 5% and 7%.
At its AGM on 15 April, the company will ask shareholders to approve a two-for-one stock split, as well as a dividend of €2.45 per share, a rise from 6.5% on the previous year.
Coca-Cola announced last week that it was taking over full control of its US water joint venture, CCDA Waters, buying out its partner, Danone. However, speculation over the poor performance of the CCD...
PepsiCo has denied press reports that it is looking to acquire Groupe Danone....
In a tough market for the home and office delivery segment of the US water market, Danone may have to cut the value of its subsidiary DS Waters, the UK's Financial Times reported today....
Groupe Danone is pulling out of the brewing industry....
Danone has completed another share buyback transaction....
Danone and Yakult have announced a joint venture to sell probiotic products in India. The move marks the first entrance by either company into the Indian market, in which they are aiming to become lea...
Danone has announced plans for a joint venture in India with Japan's Yakult Honsha Co. ...
France's Groupe Danone said on Friday that it had finally reached an agreement with The Coca-Cola Company to amend their existing deal regarding the distribution of retail bottled water products in No...
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