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PARIS, Dec 19 (Reuters) - French food group Danone said on Monday that it expected its 2016 sales growth to come in slightly below its original targets, due to a weaker-than-expected performance at its European dairy business.
Danone said that while it still expected for the full-year a like-for-like improvement in its recurring operating margin to come in above target, dairy business Activia's performance as well as "aggravated market conditions in Spain" had impacted its European dairy activities.
This meant that Danone's European dairy division had performed below expectations in the fourth quarter. (Reporting by Sudip Kar-Gupta; Editing by Andrew Callus)