French Diary maker, Danone has seen its sales figures rise moderately, though it noted that a consumer boycott in Morocco weighed on first-quarter sales.
Danone, the world’s largest yogurt maker, said first-quarter sales had risen just under 1 percent, growing by a relatively modest 0.8 percent to 6.138 billion euros ($6.94 billion), marking a slowdown from 2.4 percent growth in the fourth quarter of 2018.
The company nevertheless expected sales growth to accelerate in the second half of the year, Reuters reported.
“The first quarter showed a start of the year in line with expectations…We are pleased with the momentum of the business which will become increasingly visible from the second quarter,” CEO Emmanuel Faber said in a statement.
Danone’s CEO noted that the first quarter figures and the business momentum recorded in China, a key growth market of its, gives him confidence that the firm will meet its full-year guidance.