Danone Q3 sales rise on baby food sales

French dairy giant Danone on Monday posted a 4.6 percent rise on a like-for-like basis in third-quarter sales, outstripping analysts' forecasts.

Shares in the world's largest yogurt producer rose 2.52 percent on the Paris exchange on three-month sales of 5.6 billion euros ($6.3 billion) aided by strong baby food sales as the company saluted what it termed solid organic growth.

Reported sales were up 4.2 percent but the like-for-like improvement was above forecasts of 4.3 percent amid European growth of 5.1 percent for the strongest regional performance since 2009, said financial director Cecile Cabanis.

CEO Emmanuel Faber said the showing "confirms our progress towards sustainably anchoring a balanced profitable growth model for Danone."