Danone sees sales grow 7.7 percent in first half
French food and drink group Danone says its revenue grew 7.7 percent in the first half of the year, as it continues to expand in Asia to off-set lackluster growth in its core market of Europe.
The Paris-based maker of Activia yogurt warned earlier this year that the economic slowdown in Europe would hit its performance this year. On Friday, it confirmed its new expectations that its revenue would grow 5 to 7 percent in 2012 and that core operating margin would be slightly lower than last year's.
But income was resilient in the first half, rising 2 percent to €881 million ($1 billion). Sales came in at €10.5 billion, driven by blockbuster growth in Asia and the company's baby food division.