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Danone: Sales in Morocco still down in the first quarter

Groupe Danone recorded positive quarterly results, “in line with expectations”. Sales reached € 6.1 billion, up 0.9% year-on-year. But sales in Morocco in the first quarter of 2019 experienced a comparable decline in the fourth of 2018, the group said in a statement on its quarterly results.

“Outside Morocco, hit by a boycott movement that began in April last year, like-for-like sales growth amounted to +1.5%, with volumes down by -1.0%”, stresses the group. The multinational, however, expects a positive evolution of its activity throughout the year. As a result, annual revenue should grow by 3% like-for-like and the current operating margin should exceed 15%.

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