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Danone sales slow on China and Morocco woes
Like-for-like sales growth at French yogurt maker Danone slowed in the third quarter of 2018 - growing by 1.4%, a sharp slowdown from 3.3% growth in the second quarter and 4.9% growth in the first quarter.
Danone blamed slowing sales on a consumer boycott in Morocco that saw sales of dairy products drop, as well as falling sales of its infant formula products in China.
However, the summer heatwave in Europe boosted Danone's water business, while its dairy and plant-based business performed decently in North America.
The firm's plant-based foods and beverages, Silk and So Delicious saw strong growth, due to increased demand for nut-based beverages and an expansion into plant-based desserts like mousses and ice creams.
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