Danone posts jump in earnings, lifts 2010 sales forecast

27th July 2010, Comments 0 comments

Industrial food giant Danone on Tuesday lifted its sales forecast for 2010 as it posted an 11-percent jump in turnover for the first two quarters on a 12-month comparison.

Turnover for the first six months of the year was 8.36 billion euros (10.8 billion dollars), with notable boosts in the infant food and medical nutrition markets.

Danone said it expected sales for the whole of 2010 to increase by at least six percent, up from a previous forecast rise of five percent.

Net profit slumped however by 10 percent to 838 million euros compared to the same period last year, when profits were boosted by the sale of the group's Australia and New Zealand energy drinks subsidiary Frucor.

Financial Director Pierre-Andre Terisse described the group's results as "very solid" in a telephone news conference.

© 2010 AFP

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