Unilever Sales Fall on Currencies, Offsetting Better Volume, Prices
April 14 2016 - 3:20AM
Dow Jones News
LONDON--Unilever PLC reported a 2% fall in first-quarter revenue
after unfavorable exchange rates offset growth in volume and price
increases at the Anglo-Dutch consumer goods group.
Unilever, whose brands include Dove soap and Ben and Jerry's ice
cream, reported revenue of €12.5 billion ($14.3 billion) for the
quarter ended March 31. Underlying sales grew 4.7%.
"We are maintaining momentum despite a tougher external
environment, with all four categories gaining market share," said
Chief Executive Paul Polman, referring to the group's
personal-care, foods, home-care and refreshment categories.
"This broad-based growth, including over 8% in emerging markets,
shows the validity of our strategy, portfolio management and a
step-up in innovation," Mr. Polman said.
Unilever, the world's second-largest consumer-products company
after Procter & Gamble Co., is having to navigate through
slowing economic growth in some key markets and push into
higher-end personal-care offerings.
Unilever last year made a string of small acquisitions in skin
care, for example, and is investing in a "prestige" division that
sells high-end cosmetics and personal-care products. That has all
helped boost growth amid slower or declining sales in other parts
of the business, like margarine, one of Unilever's oldest product
lines.
The company recently named Marijn Dekkers, the outgoing chief
executive of German pharmaceutical company Bayer AG, as its new
chairman.
Unilever declared a 6% increase in its quarterly dividend to
€0.32 a share.
Write to Rory Gallivan at rory.gallivan@wsj.com
(END) Dow Jones Newswires
April 14, 2016 03:05 ET (07:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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