LONDON--Unilever PLC (ULVR.LN) Thursday indicated a further
sales slowdown in emerging markets, even as first-half profit grew
on the back of a number of disposals.
The maker of Magnum ice cream and Axe deodorant posted a
first-half net profit of EUR2.82 billion, compared with EUR2.43
billion in the same period last year, on revenue down 5.5% at
EUR24.10 billion.
Sales growth in emerging markets, where Unilever does nearly 60%
of its business, was 6.6%, down from 10.3% in the year-earlier
period.
Unilever said there had been a negative currency impact of
EUR413 million on operating profit during the first half. Like
other consumer-products companies, Unilever has suffered from the
devaluation of emerging-market currencies in the past year,
reducing the value of its sales.
"Our markets have been challenging and we have experienced a
further slow-down in the emerging countries whilst developed
markets are not yet picking up," said Chief Executive Paul
Polman.
Write to Peter Evans at peter.evans@wsj.com
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