Unilever Sales Rise on Ice Cream, Emerging-Market Demand
October 15 2015 - 2:01AM
Dow Jones News
By Saabhira Chaudhuri
LONDON-- Unilever PLC on Thursday said its third-quarter revenue
rose sharply as ice cream sales jumped and the company logged
strong growth in emerging markets.
The maker of Magnum ice cream and Dove shampoo posted
third-quarter sales growth on an underlying basis--which strips out
the impact of acquisitions, disposals and exchange-rate changes--of
5.7%, up sharply from 2.1% growth in the same period a year
earlier.
Unilever's exposure to emerging markets--where the Anglo-Dutch
consumer-products giant makes the bulk of its sales--has held it in
good stead for years but recently a slowdown in markets like
Brazil, China and Russia has kept a lid on growth.
On an underlying basis, sales growth in emerging markets
strengthened to 8.4% from 5.6% a year earlier. The company
benefited from an easy comparison with a year-earlier quarter in
which revenue in China was hit when Unilever was forced to reduce
the volume of products it supplied to big retailers there after
overestimating demand.
In developed markets, underlying sales growth was 2.1%, compared
with a 2.5% decline a year earlier.
Overall revenue climbed 9.4% to EUR13.4 billion ($15.4 billion),
including a positive currency impact of 2.9%. Profit figures
weren't disclosed.
The company has been pushing deeper into personal-care products
like shampoo and deodorants that appeal globally, and away from
slower-growing food brands. Personal care revenue climbed 6.2% on
an underlying basis, while revenue from foods rose 1.6% on this
basis.
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(END) Dow Jones Newswires
October 15, 2015 02:46 ET (06:46 GMT)
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