LONDON--Consumer-products giant Unilever PLC reported Tuesday
its first slowdown in full-year sales growth since 2009, a clear
indication that the drop off in emerging markets is starting to
affect the performances of major companies.
Still, the Anglo-Dutch company reported profit of EUR4.84
billion ($6.56 billion) in the year ended Dec. 31, up slightly from
EUR4.37 billion in 2012, on revenue 3% lower at EUR49.78
billion.
Unilever sells a wide range of food and household products
including Ben & Jerry's ice cream, Dove soap and Axe deodorant.
It makes close to 60% of its sales in China, India and other
emerging markets--a significantly higher proportion than the 39% of
Procter & Gamble Co., the world's No. 1 consumer-goods
company.
Underlying sales growth--a measure of growth adjusted for
acquisitions and disposals--slowed for the first time since 2009 as
economic uncertainty in emerging markets hampered the ability of
customers to spend on consumer products.
Growth in Unilever's personal-care category, which accounts for
around 35% of sales and is a key part of its emerging-markets
presence, slowed to 7.3% from 10%, the first slowdown in six
years.
"Looking forward, we anticipate ongoing volatility in the
external environment and are positioning Unilever accordingly,"
said Chief Executive Paul Polman.
Write to Peter Evans at peter.evans@wsj.com
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