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Latest headlines

Danone reports 15 percent drop in profits

The company blamed a recall at infant food company Fonterra as a main culprit.

By Shane O'Halloran
Danone reports drop in profits
February 21, 2014

Danone reports drop in profits

Danone says its 2013 profits fell to 1.42 billion euros from 1.67 a year earlier, a downswing of 15 percent. The company blamed weakening European markets and a recall by infant food maker Fonterra, which cost 200 million euros in lost sales in the fourth quarter. Danone says European demand could remain "sluggish" in 2014 and profits could fall further, but ongoing restructuring will stabilize its performance by the end of the year.

KEYWORDS: global economy

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