Danone Raises Guidance After Closing WhiteWave Buy
20 Avril 2017 - 7:11PM
Dow Jones News
Danone, the world's biggest yogurt maker, raised its guidance
for recurring earnings per share growth for 2017, days after
closing its $10.4 billion acquisition of WhiteWave.
The French company said it was now targeting double-digit
recurring EPS growth at constant exchange rates, instead of a rise
of "at least 5%" it had targeted in February when it didn't include
WhiteWave.
Danone agreed to buy the U.S. organic-foods producer in a deal
that more than doubled its North American business in its biggest
deal for almost a decade.
Meanwhile, the company said its sales in the January-March
period rose 3% to EUR5.46 billion, helped by organic growth of
0.7%. That performance was in line with the average estimates of
analysts.
Danone on Thursday confirmed all of its targets linked to the
WhiteWave deal, including $300 million in synergies.
Write to Nick Kostov at nick.kostov@wsj.com
(END) Dow Jones Newswires
April 20, 2017 12:56 ET (16:56 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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