Plus   Neg

Danone FY Profit Rises; Sees Tough Q1

French food company Danone SA (DANOY.PK) reported that its net income - group share for fiscal year 2020 rose to 1.96 billion euros or 2.99 euros per share from 1.93 billion euros or 2.95 euros per share in the prior year.

But recurring earnings per share declined to 3.34 euros from 3.85 euros in the previous year.

Annual sales were 23.6 billion euros, down 1.5% on a like-for-like basis, with stable volumes (-0.1%) and a -1.5% decrease in value reflecting negative category and country mix, especially in Waters and Specialized Nutrition. On a reported basis, sales were down 6.6%, mainly driven by the negative impact of exchange rates (-5.0%) that resulted from currencies devaluation against the Euro in the United States, Latin America, Indonesia and Russia.

At the Annual General Meeting on April 29, 2021, Danone's board will propose a dividend of 1.94 euros per share, in cash, in respect of the 2020 fiscal year. the ex-dividend data will be May 10, 2021 and the dividends will be payable on May 12, 2021.

Danone expects a tough first-quarter driven by the tough base of comparison of first-quarter last year and continued channel-related headwinds.

The company anticipates to be back to growth in the second-quarter, and to return to profitable growth in the second-half of year.

The company recurring operating margin for fiscal year 2021 to be broadly in line with 2020.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration said that it will rapidly work toward finalization and issuance of an emergency use authorization of Johnson & Johnson's (JNJ) single-shot COVID-19 vaccine candidate. Billionaire Warren Buffett's Berkshire Hathaway Inc. (BRK.A, BRK.B) reported that its fourth-quarter net earnings attributable to shareholders rose 23 percent to $35.84 billion from last year's $29.16 billion, with earnings per share improving to $23,015 per Class A share from $17,909 per Class A share in the prior year. Walmart Inc. has launched a nationwide drive to boost COVID-19 vaccination rates by reaching out to more residents in vulnerable communities. The retail giant will organize a series of community events at 43 locations in 18 states to administer the COVID-19 vaccine. Walmart said it plans to continue these new events over the next several weeks as vaccine allocations allow.
Follow RTT