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Danone Q3 Sales Rise, Despite Weak Europe; Narrows FY19 LFL Sales View

French food company Danone SA (DANOY.PK) reported Friday that its third-quarter consolidated sales grew 3.7 percent to 6.42 billion euros from last year's 6.19 billion euros a year ago.

Like-for-like sales growth was 3 percent, while volume declined 1.6 percent.

Europe & Noram sales edged down 0.5 percent from last year to 3.45 billion euros, but sales grew 0.3 percent on a like-for-like basis.

In the Rest of the World region, sales grew 9.1 percent on a reported basis and 6.5 percent on a like-for-like basis to 2.97 billion euros.

Looking ahead for fiscal 2019, Danone now expects like-for-like sales growth between 2.5 percent and 3 percent, compared to previous estimate of around 3 percent. The company continues to expect recurring operating margin above 15 percent.

Emmanuel Faber, Chairman and Chief Executive Officer, said, "Mindful of growing geopolitical uncertainties and softness in some markets, we continue to transform our business at pace so that it is well-positioned to respond to market needs. This keeps on track to deliver sales growth acceleration, steady improvement in recurring operating margin and strong recurring EPS expansion."

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