date:Jul 27, 2012
US infant formula group Mead Johnson has lowered its full-year sales outlook, citing a slowdown in Chinese demand.
In its second-quarter earnings release today (26 July), Mead Johnson reduced its full-year sales guidance to a range to 8-9%, down from 9-11%. The company did however restate its full-year profit target of $3.04 to $3.14 per share.
CEO Stephen Golsby said the company expects a slower growth rate in the second half due to slower growth in China.
While expecting weaker third-quarte