FRANCE: Groupe Danone Q3 revenue rises
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.
Net sales rose to EUR2.9bn (US$3.7bn) for the three months ended 30 September, Danone announced today (22 October).
It said the rise kept the firm on-track to meet full-year guidance, with underlying net sales for the first nine months of 2008 up 9.2%.
The group increase disguised a slowdown in Danone's bottle water division, however. Sales rose by just 2% in the third quarter, boosted by a near 6% jump in volumes, but hampered by tough conditions in Western Europe.
Markets in the UK, France and Spain were particularly difficult, Danone said, adding that volume sales for Europe declined during the quarter.
Double-digit rises in emerging markets, especially Indonesia, Mexico and Argentina, helped to offset the downturn, the firm said.
It added that group sales for 2008 were expected to rise by between 8% and 10%.
Danone's bottled water division emerged as the group's achilles heel in 2008, with some analysts suggesting the French giant would consider off-loading some of the business if it could....
The economic downturn could not have come at a worse time for the bottled water industry. Not only is the category battling to win the consumer's pennies and cents, but it has also had to battle again...
Groupe Danone has reported a 1% sales rise for the first quarter of 2009, but a slide in bottled water sales has accelerated from the fourth quarter of last year....
Danone has said it intends to pursue growth in India independently, after announcing the end of its joint venture in the country with Wadia Group....
Bottled water sales in the UK will continue to fall in 2009, but the category is on-track to recover in 2010, according to a new report....
The nutraceutical drinks category registered a healthy lift in volume sales last year, according to recent statistics....
A California court has ruled that Groupe Danone's trademark dispute with Chinese joint venture partner Wahaha should be settled in China, not by the US judicial system....
Falling bottled water sales in 2008 provided the blip in Nestle's sales and profit rise for its full-year....
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