China’s baby boom is lifting sales at the world’s largest yogurt maker, Danone.
The French firm behind brands such as Actimel and Activia said quarterly sales grew more than expected, at nearly 5 per cent, to £5.2billion, boosted by demand for its baby formula in China.
The country is seeing a sharp growth in births after the government allowed parents to have more than one child.
Danone said quarterly sales grew more than expected, at nearly 5% to £5.2%, boosted by demand for its baby formula in China
Danone is beating rivals Nestle and Reckitt in the race to feed China’s babies, by selling direct to customers via e-commerce as well as stores.
Finance chief Cecile Cabanis said she expected strong demand for baby products such as Aptamil baby milk to continue during the second quarter.
Demand also grew in the US, Latin America and Europe. Sales at its specialised nutrition business, which includes its infant milk, rose 14.5 per cent to £1.6billion.
Sales at the firm’s water business, which includes brands such as Evian, rose 4.2 per cent to £850million.
Danone chief executive Emmanuel Faber said he was very pleased with the results, and the company was on track to meet its targets for 2018.