FRANCE: Danone reports EPS growth target reached for H2 (+10.4%)
French food giant Danone has reported that like for like net sales growth in its fiscal 2001 was up 5.1%, while there was a solid increase in operating margin from 10.8% to 11.1%, in line with the group's targets. Due to the positive dynamic of the operating result, net profit (excluding exceptional one-time items) grew 8.3% to €780m in 2001. Exceptional one-time items, in line with Danone's initial announcements, include €236m (before tax) for the Biscuits restructuring and €475m for an impairment to the Galbani's goodwill linked with the divestment projects contemplated.
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