Blog: Dean BestWill 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."


BLOG

UK food producers call for "best possible single market access" post-Brexit

Since Theresa May took over as UK Prime Minister in the wake of the country's referendum vote to quit the European Union, she and her ministers have been at pains not to divulge their negotiating posi...

BLOG

Greenpeace trains sights on Sainsbury's over John West tuna

Greenpeace's long-running campaign against UK tuna brand John West, owned by seafood giant Thai Union, is now directing its fire against Sainsbury's....

BLOG

Post-Trump victory, TPP trade deal appears dead

The Obama administration appears to have conceded the landmark Trans-Pacific Partnership (TPP) trade deal will not be pushed through in the lame-duck session of Congress before Donald Trump is inaugur...

just-food homepage



Forgot your password?