Danone shrugs off war with strong start to year

STORY: Danone has shrugged off worries it could face a tough start to the year.

The French food group saw sales rise more strongly than expected in the first quarter.

They rose to just over $6.7 billion, well ahead of analyst forecasts.

The maker of Activia yogurt and Evian water also kept its goals unchanged for the year.

That’s despite a challenging business environment.

Danone faces rising input costs as inflation picks up around the world.

It has also been forced to suspend investment in Russia following the start of conflict in Ukraine.

Despite all that, the firm saw sales grow across most markets and businesses.

Like-for-like growth was the best since late 2014.

Demand for bottled water jumped as global lockdowns eased.

The news all reassured analysts that a company revival plan is on track.

Danone shares jumped over 7% in early trades on Wednesday (April 20).

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting