Groupe Danone, the French dairy and baby food company, confirmed its earnings and growth objectives for 2008 at its annual shareholders meeting yesterday (29 April).
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Danone’s new chief financial officer Pierre-Andre Terisse said the group expects a sales growth of between 8% and 10% for this year, and an earnings-per-share growth of least 15%.
Danone’s revenue rose 11% in the first quarter, from a year earlier, driven by continuing double-digit growth in its core dairy products division.
Last year, Danone sold its cookies business to US-based Kraft Foods. It also sold its stake in Bright Dairy & Food Co., and bought Dutch baby food company Royal Numico for EUR12.3bn (US$19.1bn).
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