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The news fell like a bombshell. Central Danone listed in the Casablanca Stock Exchange has just issued a profit warning, advising the stock market that profits will be lower than expected in 2018.
The Moroccan subsidiary of the Danone Group (which owns 99.68% of its shares) has witnessed, since the start of a boycott campaign on April the 20th, a decline in its consolidated turnover of about -50%. It also indicates that its net income will drop by -20% in the first half of 2018, which accounts for 150 million dirhams, compared to a profit of 56 million dirhams recorded during the same period last year, said a statement issued by the French company.
A source close to Central Danone told Yabiladi that the company's daily revenue is the lowest it has ever reached (7 million) in thirty years, while it used to revolve around 7 to 20 million dirhams. This information has not yet been confirmed by Centrale Danone, which has refused to answer Yabiladi's calls.
For the record, Centrale Danone has decided to reduce its raw milk purchases by 30% on May the 29th. The company has also terminated short-term agency contracts.
