2014-04-02 21:03:02 - France Food and Drink Report Q1 2014 - a new market research report on companiesandmarkets.com
Danone Launches EUR1bn Bond To Fund Expansion: France-based food company Danone has issued a EUR1bn (US$1.13bn) eight-year bond to fund its expansion drive. The company stated that funds raised from the bond issuance will be used to finance growth as well as to extend its debt maturity at favourable market conditions. The bond pays a coupon of 2.25% and has been ´widely subscribed by a diversified investor base´ Pernod Ricard´s Revenue Declines 9%: France-based spirits company Pernod Ricard´s revenue declined 9% year-on-year (y-o-y) to EUR2bn (US$2.75bn) in Q113/14 ended September 30. The company attributed this to unfavourable currency fluctuations and a slowdown in emerging markets, particularly China. The company´s organic sales, excluding acquisitions and currency fluctuations, declined 1% y-o-y during
the period. The company has lowered its full-year profit forecast to 4-5% in FY13/14, down from 6% growth achieved in FY12/13.
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