Danone upgrades 2016 guidance as emerging markets boost sales
Published 14/06/2016 | 08:16
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).