FRANCE: Groupe Danone confirms targets for 2008
Groupe Danone has reiterated its sales and profits targets for this year.
Speaking to shareholders at its annual meeting earlier this week, Pierre-Andre Terisse, the France-based company's CFO, said Danone expects total sales for 2008 to rise by between 8% and 10% on 2007, with underlying earnings per share growth of at least 15%.
Last month, Danone, which owns the Evian and Volvic water brands, said that total group sales in the first three months of 2008 were up by 11.4% on the corresponding quarter a year, at EUR3.76bn (US$5.93bn).
Sales at the water division rose by 7%, following what a spokesperson for the company described as the "de-consolidation" of its Chinese joint venture with Hangzhou Wahaha from its financial performance. Revenue from the unit reached EUR695m, compared to EUR1.01bn in Q1 last year, when Chinese results were also factored in.
Volumes at the waters division were up by 6.8% year-on-year, with Latin America and Asia driving the rise. Growth in Europe was described as "more modest", due in part to fewer selling days than last year, as a result of an earlier Easter season, and by "softer market conditions" in France.
Kirin Beverage Corp has recalled more than half a million bottles of Volvic mineral water in Japan, following consumer complaints, according to local reports....
Branded bottled water looks like the early victim in the global economic downturn, following results from big hitters Nestle and Danone last week....
Danone has agreed a deal to sell its Frucor Australasian drinks division to Japan's Suntory for more than EUR600m, the group has announced....
The top ten stories published on just-drinks this week:...
Danone, the French dairy and drinks group, has said like-for-like revenue grew 8.3% in the third quarter, despite a tough three months for its bottled water brands....
Thousands of branded and own-label soft drinks, including those made by Orangina Schweppes and Danone, have been recalled in France following contamination of a bottling plant's water source....
A first round of bidding has taken place for Danone's Frucor drinks division, according to reports....
Coca-Cola Amatil has said it is on-track to meet operating profit growth of 7% for its full-year, following a solid third quarter....
- AB InBev, SABMiller - Here's what'll happen next
- Is time right for TWE to move for Diageo's wines?
- Is Brown-Forman at the end of the SoCo road?
- Will a sexed-up SABMiller tempt AB InBev?
- Making consumers the centre of your business
- AB InBev makes formal offer for SABMiller
- Diageo secures Xerox Corp CFO as finance head
- Tesco pulls several Carlsberg SKUs in UK
- Diageo makes US$780.5m beer deal with Heineken
- SABMiller formally rejects AB InBev's offer
- The IWSR Duty Free/Travel Retail Summary Report 2015
- Future growth opportunities for global spirits
- Global gin insights - market data, product innovation and consumer trends research
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research