Danone meets expectations in first quarter of 2017

Danone has met its financial expectations during the first quarter of 2017, with its total sales coming to 5.46 billion euros (4.61 billion pounds) for the period.

This represented a small year-on-year increase of 0.7 percent in like-for-like terms, or three percent as reported. The firm expressed satisfaction with the forward momentum of the business in the midst of a volatile trading environment.

In order to account for this and drive future growth, Danone has undertaken restructuring efforts, simplifying its global organisation while completing a deal to acquire WhiteWave, a maker of plant-based foods and beverages, coffee creamers, premium dairy products and organic produce.

This will result in the creation of a new business unit called DanoneWave, which will be led by Lorna Davis. Efforts will be focused on integrating the business into Danone's overall structure in the coming months.

The company expects double-digit recurring earnings per share growth at constant exchange rates over the remainder of the year.

Emmanuel Faber, chief executive officer of Danone, said: "2017 is a year of construction that will strengthen Danone as an even more resilient company, best prepared to seize tomorrow's opportunities."

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