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Danone higher after strong Q3 earnings report

Oct. 19, 2015 1:09 PM ETDanone S.A. (DANOY) StockDANOY, GPDNFBy: Clark Schultz, SA News Editor
  • Danone (OTCQX:DANOY, OTCQX:GPDNF) closed up 5% in European trading after the company reported Q3 revenue ahead of the consensus estimate of analysts. The ADRs are trading 1.24% higher.
  • Revenue rose 4.6% Y/Y to €5.641B ($6.36B) vs. €5.7B consensus. Sales volume was up 0.8%, while prices contributed 3.8 percentage points of growth after factoring out F/X swings. Sales in Danone's baby food unit improved 12% during the quarter.
  • The company backs 2015 targets of organic sales growth of 4% to 5% and a slight rise in trading operating margin.
  • Danone press release

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