The decline in sales at French dairy giant Danone slowed in the third quarter, falling 1.7% on a 12-month comparison, the company said today. Turnover was €3.78 billion, up from a 2.3% drop in the first quarter and 2.1% in the second quarter.
Analysts said turnover in the sector has held up well in the economic crisis because dairy products are considered an important staple but warned that pressure to keep low prices could limit the value of sales.
'The operational adjustments we have been implementing since the start of the year are translating into an accelerated growth of our volumes and sales,' Danone chief executive Franck Riboud said .
