Danone says Morocco unit lifts profit
Paris - French yogurt and bottled water maker Danone SA says its first-half earnings rose 10 percent after its takeover of a subsidiary in Morocco helped boost profit.
Source : https://www.marocafrik.com/english/Danone-says-Mor...
The company behind Dannon yogurt and Evian water says it made 972 million euros ($1.27 billion), up from 881 million euros a year earlier.
Earnings were boosted by Danone's February takeover of its Moroccan subsidiary Centrale Laitiere.
However, Danone said that on an underlying basis its profit slipped 4 percent in the period with weak sales in Europe continuing to offset gains internationally. Rising raw material prices also cut into profit.
Danone is in the midst of a 200 million euro cost-cutting effort aimed at reversing its falling profitability.
Earnings were boosted by Danone's February takeover of its Moroccan subsidiary Centrale Laitiere.
However, Danone said that on an underlying basis its profit slipped 4 percent in the period with weak sales in Europe continuing to offset gains internationally. Rising raw material prices also cut into profit.
Danone is in the midst of a 200 million euro cost-cutting effort aimed at reversing its falling profitability.
Source : https://www.marocafrik.com/english/Danone-says-Mor...