Danone forecast slower profit growth this year and said it will seek to cut 1 billion euros ($1.1 billion) in costs by the end of the decade as the world’s largest yogurt maker grapples with an expected surge in milk prices.
The maker of Activia and Actimel said Wednesday it’s targeting earnings per share growth of more than 5 percent, which would be the slowest in three years. Last year, the profit measure rose 9.3 percent.
