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Oct 26 2023, 08:40 IST/BST
Danone
Q3 update – FY23 LFL growth guidance raised
DAVY VIEW
Q3 like-for-like (LFL) growth came in above our estimates at +6.2% (Davy: +4.5%), driven by further pricing across all categories and regions – volumes were resilient, improving sequentially with positive contribution expected in Q4-23. FY23 LFL growth guidance has been raised to between 6-7% (previously 4-6%), supported by strong delivery to date and ongoing momentum across the group. At first blush, we envisage minimal changes to our FY23 forecasts.
