On Wednesday, French food products company Danone (DANOY.PK) reported an 11.5 percent increase in its half-year net income, Group share, reaching 1.219 billion euros, up from 1.093 billion euros in the previous year. Earnings per share for the same period rose by 11.6 percent, moving from 1.70 euros to 1.89 euros.
The company's recurring net income, Group share, saw a 2.6 percent rise to 1.162 billion euros from 1.133 billion euros, with the corresponding recurring earnings per share also increasing by 2.6 percent, from 1.76 euros to 1.80 euros.
During the first half of 2024, consolidated net sales experienced a 2.9 percent decline, totaling 13.757 billion euros, attributed to negative impacts from scope and foreign exchange, alongside a positive contribution from hyperinflation. However, sales grew by 4.0 percent on a like-for-like basis, driven by a balanced contribution from both volume/mix and price increases, with all segments contributing to this growth.
Looking ahead to the entirety of 2024, Danone reiterated its guidance, expecting like-for-like sales growth between 3 and 5 percent, coupled with a moderate improvement in the recurring operating margin.
