Shares in Danone are up over 2% as sales grow
Shares in food group Danone rose by over 2% in Paris to €67.40 (£55.70) after the company reported sales of €6bn (£5.2bn) in the first quarter of 2018.
The result was driven by a "very strong" performance of the company's infant formula in China, where like-for-like sales growth in its early life nutrition business increased by over 50%
Infant formula products fall under the group's specialised nutrition business, which reported overall global sales growth of 14.5% year-on-year in the three-month period, according to the 2018 first quarter results from the company.
Organic sales at Danone increased by 4.9% year-on-year during the period, with volume increasing by 1.1%, while the company's pricing/mix improved by 3.8%.
The update confirms that Danone is on "an improved pathway," according to Cathal Kenny, analyst at Davy. Mr Kenny said the company's earnings margin delivery would be weighted towards the second half of the year.