Friday 20 October 2017

Yoghurt company profits set to go off

DANONE, the world's biggest yoghurt maker, cut its profitability forecast as Spanish consumers switch to less expensive products and raw-material costs rise. The shares fell the most in three years. The maker of Actimel yogurt expects its operating margin to drop by 0.5pc in 2012 on a like-for-like basis, it said in a statement yesterday. Paris-based Danone previously expected a "stable" margin. The shares fell as much as 7.5pc, the steepest intraday decline recorded since May 2009.

Irish Independent

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