Although operating profit at the group was flat at €795m, the company booked one-off charges of €1.03 billion in the first half to cover goodwill impairment. The group said that two-thirds of the one-off charge came from writing off goodwill in emerging markets, principally Argentina and Brazil. The balance of the charge was the €305m related to its tie-up with Coca-Cola in the US.
FRANCE: Danone into the red in first half
The French food and drinks group, Danone, which owns among others the Volvic and Evian mineral water brands, reported a net loss of €629m for the first half of the current fiscal year, compared with a profit of €375m last year.
July 24, 2002