By Anthony Shevlin

Danone SA (BN.FR) said Friday that net income for the first half rose, boosted by strong growth in its specialized nutrition division.

The French food company said net income was 1.20 billion euros ($1.40 billion), compared with EUR975 million the year previous. A consensus provided by Danone saw net income at EUR1.12 billion.

Danone said operating profit in the first half was EUR1.09 billion, hit by a boycott in Morocco.

Sales for the first half were EUR12.5 billion, up 4% on a new like-for-like basis, which integrates the company's acquisition of WhiteWave.

Sales in the second quarter were EUR6.41 billion.

Danone said in 2018 it will "progress towards its 2020 ambition through further sales growth and an improved recurring operating margin."

The company expects a mid-single digit rise in packaging and material costs in 2018.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com

(END) Dow Jones Newswires

July 27, 2018 01:48 ET (05:48 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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