Blog: Will Danone's Q1 herald good news for rest of European sector?
Dean Best | 14 April 2011
Shares in Danone rose today (14 April) after the French food giant's first-quarter sales beat analyst forecasts.
The Activia and Actimel maker recorded an 8.5% rise in sales on an organic basis for the first three months of 2011.
The result surprised analysts who noted that Danone's results lapped a first quarter of 2010 when sales rose a robust 7%.
By 16:25 CET, Danone's shares were up 1.9% to reach EUR47.73 and some in the analyst community believed the company's performance could improve the way the market perceives the fortunes of the rest of the major European listed food companies.
"Being the first company in European Food to report in the first quarter, we believed that Danone could have a positive impact on sector sentiment," Sanford Bernstein analyst Andrew Wood said. "We do expect that Danone’s stock will react positively on the back of upgrades to growth expectations for 2011, perhaps back into positive territory for YTD relative performance, and we expect a positive knock-on effect for its European Food peers too."
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