(AP) Revenue at French dairy company Danone was flat in the third quarter after an infant formula recall over fears of botulism contamination.
The yogurt maker said Wednesday that revenue was 5.3 billion euros ($7.2 billion) in the July-to-September quarter.
The company has been driving hard into Asia with its waters and baby nutrition. But those efforts were set back this summer when New Zealand dairy company Fonterra, which is a Danone supplier, triggered an infant formula recall over fears of botulism contamination. Testing later showed it was likely a false alarm.
The recall drove sales for Danone's baby nutrition down 13 percent in the third quarter. The company said the recall would likely shave 350 million euros off its annual revenue and adjusted down its growth targets for the year.