Danone dairy and drinks improve profits

- Last updated on GMT

Related tags: Generally accepted accounting principles, Net income, Danone

Danone, the French foods group, on Tuesday reported a 5.7 per cent
rise in 2000 net profits, helped by a higher revenue from its
drinks and dairy products...

Danone, the French foods group, on Tuesday reported a 5.7 per cent rise in 2000 net profits, helped by a higher revenue from its drinks and dairy products businesses, the Financial Times reports. Danone earned E721m ($668.5m) last year compared with E682m the previous year. Excluding one-time gains, the company had a profit of E720m compared with E653m. The company's revenues rose by 7 per cent to E14.3bn on a pro forma basis. The drinks division, which accounts for 29 per cent of revenues, posted a strong gain, with sales increasing by 8.4 per cent. Operating income climbed to E1.55bn from E1.39bn as the operating margin improved to 10.8 per cent from 10.5 per cent. The announcement comes at a time when the company has witnessed falling shares due to strikes by workers following a report that as many as 3,000 jobs would be cut in the biscuits division, including the Lu brand. As yet, the company has refused to confirm restructuring rumours.

Related topics: Market Trends

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