Danone (DANOY.PK) warns that strapped Spanish consumers switching to lower-priced food options...

|About: Danone ADR (DANOY)|By:, SA News Editor

Danone (DANOY.PK) warns that strapped Spanish consumers switching to lower-priced food options will hit its results this year. CFO Pierre-Andre Terisse cut the projection for sales growth to 6.9% from around 5% and says margins will also be impacted by higher packaging costs for yogurt and baby formula. Danone trades down 7.2% in Paris, while peer Nestle (NSRGY.PK) is off 0.8%.