By Tom Muller:
Danone (BN), the world’s biggest yogurt maker, reported first-quarter sales that beat analysts’ estimates, led by bottled water brands that include Evian.
Like-for-like revenue increased 8.5 percent from a year earlier, the fastest growth in three years, the Paris-based company said today. The median estimate of 15 analysts surveyed by Bloomberg News was for growth of 6.9 percent.“The first quarter has been a cracking start,” wrote Warren Ackerman, an analyst at Evolution Securities with an “overweight” rating on Danone. “Water was the big beat.”
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