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Danone Q1 LFL Sales Growth At 0.8%; Affirms 2019 Guidance - Quick Facts

Danone (DANOY.PK) reported first-quarter consolidated sales of 6.14 billion euros, up 0.8% on a like-for-like basis with a 2.2% decline in volume. Excluding Morocco, sales were up 1.5% on a like-for-like basis with volumes down 1.0%. Overall, reported sales were up 0.9% including currency impact of 0.2%.

Emmanuel Faber, CEO, stated: "The first quarter showed a start of the year in line with expectations and further progress in our transformation journey. The momentum of the business will become increasingly visible from the second quarter. This gives us every confidence that we will meet our full-year guidance."

For 2019, Danone said it is targeting like-for-like sales growth around 3% and recurring operating margin above 15%.

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