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Danone Yogurt Business Gains Ground, Boosting Sales Growth

  • China drives baby-food gains; dairy and plant-based unit rises
  • Dairy rebound comes as infant-formula demand seen normalizing
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Danone’s long-suffering yogurt business is finally showing signs of a turnaround.

The Paris-based company’s revenue climbed 4.9 percent on a like-for-like basis in the first three months, the fastest first-quarter growth in five years and above analyst expectations. The gains were bolstered by an improvement in Danone’s dairy arm, which has been a drag on growth as infant-formula sales raced ahead. The shares rose as much as 3.8 percent.