FOOD AND DRINK
Danone posts higher sales
French food and drink company Groupe Danone SA said its sales rose 4.3 percent in the first quarter of the year, driven by growth in new markets that offset struggles in Europe. The company said yesterday it brought in 5.3 billion euros (US$6.9 billion) in revenue in the first quarter. Sales are booming in Asia, Latin America, the Middle East and Africa, where revenue grew 13.2 percent.
LVMH sales grow 6%
French luxury giant LVMH Moet Hennessy Louis Vuitton SA said its first-quarter sales grew 6 percent, thanks to growth in its upscale retailing division. The company behind leather goods from Louis Vuitton and Hennessy cognac said on Monday that its revenues were 6.9 billion euros (US$9 billion) in the first quarter. That was just above the consensus of analysts, but could mean that the company’s growth is finally beginning to slow.
Vodafone to lay off Germans
Vodafone Group PLC is cutting 500 jobs in Germany, the company said on Monday, as the group adjusts to harsher competition and lower fees in Europe’s largest economy. The firm aims to shift some operations to Romania and India, as well as considerably reduce starting salaries.