Unilever Backs 2017 Guidance; Dual-Headed Structure Review Progressing
November 28 2017 - 03:50AM
Dow Jones News
By Ian Walker
Unilever NV (UNA.AE) Tuesday backed its 2017 guidance and said
the review of its dual-headed legal structure is progressing
well.
The Anglo-Dutch consumer products company said it continues to
expect underlying sales growth of 3% to 5%, an improvement in
underlying operating margin of at least 100 basis points, and
strong cash flow delivery.
Unilever, which houses the Ben & Jerry's, Dove and
Hellmann's brands among its portfolio, also said that the exit from
its spreads business via sale or demerger remains fully on
track.
The company has previously announced plans to review its
dual-headed structure as it believes a single share class provides
greater ongoing strategic flexibility for value-creating portfolio
change.
As part of this unification, the company plans to maintain
listings in the Netherlands, the U.K. and the U.S., as well as
continue to apply both the U.K. and Dutch corporate governance
codes.
Shares in London at 0805 GMT were up 28 pence, or 0.7%, at
4264.50 pence.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
November 28, 2017 03:35 ET (08:35 GMT)
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