FRANCE: Danone reports better-than-expected Q3 sales
French diary products giant Danone has reported better-than-expected third-quarter sales and confirmed that the company is in talks to buy Russian dairy and juice firm Wimm-Bill-Dann.
Danone, which makes Dannon and Actimel yoghurts, reported 9.4% growth in organic sales, which strip out foreign exchange variations, disposals and acquisitions, for the third quarter, reported Reuters.
Third-quarter sales were €3.49bn (US$4.08bn), compared to €3.32bn a year earlier. Analysts had expected third-quarter turnover of €3.38bn.
The company said sales for the nine-month period to end-September fell 3.4% to €10.11bn, beating forecasts of €10.01bn.
Chief executive Franck Riboud confirmed that the French company is in talks to buy Wimm-Bill-Dann, but declined to comment on the stage of the negotiations.
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