Investors Increasingly Wary About Danone Price Cuts

French food and drink group Danone has increased its annual sales target after reporting strong sales growth for H110. In the six months to June 30, Danone's sales increased by 7% on a like-for-like basis to reach EUR8.36bn. However, the company's strategy of boosting sales by cutting margins took its toll on profitability, with the operating margin falling by 74 basis points and net profits coming in 10% lower

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