Danone reiterates financial position

Danone has reiterated its financial position via an official statement, claiming it is “sound and continuously improving”.

The company, which specialises in medical and baby nutrition in addition to water and dairy products, said it remains on track to reach its projections for the year.

Following the agreement of a time frame to achieve credit metric improvements and debt reduction, it is still set to reach this end point, Danone said.

It also stated that the next “significant” debt payment due to be paid by the company was not until 2010 when the total will be 2.3 billion euros (1.87 billion pounds).

According to Danone, the group is number one in the world for fresh dairy products and number two for packaged water and baby nutrition.

Net sales for 2007 reached 12,776,000 euros, which was an increase of 5.9 per cent on the previous year. Sales in Europe were the highest for the company, with fresh dairy products being the biggest-selling sector.

Debt at the end of 2007 increased to 11,261,000 euros from 2,902,000 euros.