By Joshua Kirby

 

Danone SA on Thursday raised its guidance for 2022, as third-quarter sales rose above expectations thanks to higher prices.

The French producer of yoghurts, bottled water and infant-nutrition products made sales of 7.33 billion euros ($7.39 billion) between July and September, 9.5% higher like-for-like than in the same period last year. This beat analysts' expectations for quarterly sales of EUR7.05 billion, according to a company-compiled poll of estimates.

Pricing effects led the growth, rising 11% on year, compensating a slight decline in volumes, Danone said.

Danone raised its outlook for the remainder of the year on the back of the results. The company now sees like-for-like sales growth of 7%-8% for the year, compared with 5%-6% previously. A recurring operating margin above 12% remains the company's target for the year, it said.

 

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

 

(END) Dow Jones Newswires

October 27, 2022 12:09 ET (16:09 GMT)

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