French dairy company Danone has reported 9.4% increase in its consolidated sales to €5.26bn for the third quarter of 2012, compared to €4.81bn for the same period in 2011.
The company said that this organic growth indicates a 1.6% increase in sales volume and a 3.4% increase due to the price effect. Growth declined sharply at the company's dairy division as shoppers in Italy and Spain turned to cheaper alternatives due to recession conditions.
Consolidated sales in the Fresh Dairy Products division increased by 4.4% to €2.91bn, compared to €2.79bn for the corresponding period in 2011.
Meanwhile, sales in the Baby Nutrition division increased by 17.2% to €1.06bn, compared to €902m in 2011.
Danone chief financial officer Pierre-Andre Terisse said the environment remains supportive and favorable in all geographies except Europe.
