Quarterly Sales revenue dipped 2.1 per cent to €52m but organic sales growth was 2.2 per cent and volume growth was 3.6 per cent.
Bernstein Research analyst Andrew Wood said: “Dairy growth was most surprising, with volumes accelerating comfortably into positive territory.”
“It appears that the worst is over for dairy volumes”, added the analyst.
Helped by falling commodity prices, margins also accelerated strongly during the quarter, contributing to Danone’s underlying net income rise of 7.6 per cent for the first half of the year to €722m. Danone confirmed its forecast for the full financial year.
