France's Danone SA is spending US$665mil to up its stake in China's top dairy firm, China Mengniu Dairy, as it seeks to boost its presence in one of its most important markets - Xinhua Photo.
PARIS: French food group Danone kept its forecasts for a further rise in sales and profits this year although weaker demand for infant formula products in China and a consumer boycott in Morocco weighed on first quarter sales.
Danone, the world’s largest yoghurt maker, said first quarter underlying sales had risen by a relatively modest 0.8% to €6.138bil, marking a slowdown from 2.4% growth in the fourth quarter of 2018.
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