Danone 1st Half Net Profit, Revenue Fell on Coronavirus Hit
July 30 2020 - 2:07AM
Dow Jones News
By Matteo Castia
Danone SA reported on Thursday a slight fall in first-half net
profit as the coronavirus hurt revenue and said it expects results
to improve although uncertainty persists for the second half.
The French food company made a net profit of 1.02 billion euros
($1.20 billion) for the six months compared with EUR1.04 billion
for the year-earlier period.
Revenue fell to EUR12.19 billion from EUR12.65 billion the
previous year. In the second quarter, revenue decreased 8.3% to
EUR5.95 billion.
"After a strong momentum in the first quarter with sales up
3.7%, sales decreased by 5.7% in the second quarter on a
like-for-like basis, hit by the expansion of the Covid-19 pandemic
into new regions, most notably Latin America," Danone said.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
July 30, 2020 01:52 ET (05:52 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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