Unilever 1st Half Sales Growth Hit By Brazil Strike, Net Profit Falls 2.3%
July 19 2018 - 1:58AM
Dow Jones News
By Maryam Cockar
Unilever PLC (ULVR.LN) on Thursday said a truckers' strike in
Brazil hit underlying sales growth in the first half of 2018 and
that net profit declined 2.3%.
For the six months ended June 30, the Anglo-Dutch consumer goods
company made a profit of 3.04 billion euros ($3.54 billion)
compared with EUR3.11 billion a year earlier.
Unilever, whose brands include Hellmann's mayonnaise and Ben
& Jerry's ice cream, said revenue fell 5% to EUR26.35 billion
from EUR27.73 billion and included an adverse translational
currency impact of 8.9%.
Underlying sales growth was 2.5%, a deceleration of compared
with 3% growth last year. The company said the extended truckers'
strike in Brazil, one of the Unilever's biggest markets, adversely
affected underlying sales growth by around 60 basis points.
Underlying sales growth for the second quarter, excluding the
spreads and margarine business which the company completed the sale
of in July, was 1.9%.
The company declared a quarterly dividend of EUR0.3872 a
share.
Chief Executive Paul Polman said the company backs its previous
guidance for the full-year and he continues to expect underlying
sales growth between 3% to 5% range, an improvement in underlying
operating margin and strong cash flow.
Write to Maryam Cockar at maryam.cockar@dowjones.com
(END) Dow Jones Newswires
July 19, 2018 02:43 ET (06:43 GMT)
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