Danone upgrades 2016 guidance as emerging markets boost sales
French Danone, the world's largest yoghurt maker, raised its 2016 earnings guidance thanks to growth in emerging markets, notably in China.
Danone said in a statement it had upgraded its 2016 guidance for "trading operating margin" from "solid improvement" to a range of 50 to 60 basis points and confirmed its sales growth guidance in a range of 3pc to 5pc.
It left unchanged its 2020 target to generate "strong,profitable and sustainable growth".
Danone said that "trading operating margin" is a financial indicator used by Danone and which is not defined by International Financial Reporting Standards (IFRS).