Danone had a record quarter with the strongest quarterly growth in the past ten years. Sales exceeded expectations, although there is still much to be done, as reported by RetailDetail.

Price increases helped Danone achieve a sales growth of 10.5%, reaching 6.96 billion euros, thanks to prices that were on average 10.3% higher.

Volumes increased by 0.2%, remaining relatively stable. All three segments (dairy and plant-based products, specialized nutrition, and water) contributed to the growth, according to the company.

This means that consumers have only just begun to switch to cheaper alternatives, which is why the yogurt producer dares to raise its annual forecast.

For 2023, the company now expects sales growth between 4% and 6%, instead of the previously forecasted 3% to 5%.

CEO Antoine de Saint-Affrique describes this progress as encouraging but emphasizes that "there is still much to be done." Danone is working on a new strategy and improving operational efficiency