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Saturday 29 April 2017

Danone upgrades 2016 guidance as emerging markets boost sales

China is a magnet for foreign milk powder makers
China is a magnet for foreign milk powder makers

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).

Reuters

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