Unilever Posts Stronger 1Q Underlying Sales
April 20 2017 - 02:55AM
Dow Jones News
By Saabira Chaudhuri
Unilever PLC reported stronger underlying sales for the first
quarter, as it raised prices, while headline results were helped by
currency volatility.
The Anglo-Dutch consumer goods group, whose brands include Dove
soap and Ben & Jerry's ice cream, reported a 6.1% rise in
revenue to EUR13.3 billion euros ($14.3 billion) for the quarter,
up from EUR12.5 billion in the comparable period a year
earlier.
Underlying sales--which strip out the impact of foreign exchange
volatility--grew by 2.9%, beating analyst estimates for growth of
2%.
Unilever's underlying sales in emerging markets increased by
6.1% in the first quarter, down from the 8.3% growth reported a
year earlier. In developed markets, sales declined by 1.5%, a
deterioration from the 0.3% fall seen a year earlier.
The results come as rival Nestle SA said its first-quarter
revenue grew by 2.3% on an organic basis--which strips out the
impact of currency volatility and acquisitions--but was roughly
flat from a year earlier as the company struggled with sluggish
consumer demand in the Americas.
-Write to Saabira Chaudhuri at saabira.chaudhuri@wsj.com
(END) Dow Jones Newswires
April 20, 2017 02:40 ET (06:40 GMT)
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