Food giant Danone gets boost from higher prices during period of inflationary costs

Danone said it would raise prices in 2024, citing a need to offset labour costs and shipping prices, but that the increase would be at a slower pace than previously.

Danone reported 2023 sales of €27.6bn. Picture: Lucas Schifres/ABACA.

French food group Danone said it was confident for the year ahead after sales growth last year at the top end of its forecast, as higher prices improved its profit margin, offsetting lower volumes.

"Building on the positive momentum of 2023, we are starting this financial year with confidence in our Renew strategy," chief executive Antoine de Saint-Affrique said.