Danone reports like-for-like growth in Q3 2016

Danone has announced its financial results for the third quarter of 2016, during which it experienced solid like-for-like growth despite economic challenges.

The company's total sales for the quarter came to 5.54 billion euros (4.93 billion pounds), which represented a nominal decline of 1.8 percent year on year, but an increase of 2.1 percent in like-for-like terms.

This decline was primarily a reflection of negative trends in currencies including the Argentine peso, the British pound, the Mexican peso and the Chinese renminbi, with its actual business operations seeing solid organic momentum.

Danone remains subject to the volatile nature of the global market at the moment, particularly in China, but will continue to compensate for this by adopting a balanced growth model and a commitment to efficiency.

For the first nine months of the year, the company's sales are ahead of last year's by 3.2 percent on a like-for-like basis.

Emmanuel Faber, chief executive officer of Danone, said: "We remained focused on strategic growth opportunities, avoiding tactical allocations of resources and working on increased efficiencies and cost optimisation."

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