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Andrea Felsted

Danone's Health Kick Is Nice. Let's See the Full Makeover

For a re-rating Danone needs to show its great first quarter isn't just a one-off.
Danone Products Ahead Of Earnings
Antoine Antoniol/Bloomberg

Take care of what's inside. That's the strapline for one of Danone SA's promotional campaigns for its Activia yogurt brand.

The company has done the same. Its report on Wednesday of like-for-like sales growth of 4.9 percent in the first quarter certainly pleased investors. Sales of Activia are finally recovering in Europe, after a failed attempt to revive the brand in 2016. In the U.S., meanwhile, the company enjoyed a rebound in demand for almond milk, and increased its market share in yogurt.