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Unilever Expects Markets to Remain Tough

31 October 2014

GLOBAL - International food and commodities giant Unilever has seen underlying sales grow by 3.2 per cent with emerging markets up by 6.2 per cent.

Underlying volume growth was 1.4 per cent ahead of the markets and pricing up 1.8 per cent.

However, turnover fell by 4.3 per cent to €36.3 billion including a negative currency impact of 6.6 per cent.

In the third quarter underlying sales growth was 2.1 per cent and underlying volume growth was 0.3 per cent and pricing rose by 1.8 per cent.

Unilever CEO Paul Polman (pictured) said: “We continued to invest behind our brands and innovations so that we are well-positioned for the long term growth opportunities which remain fully intact.

“We expect markets to remain tough for at least the remainder of the year. We have further accelerated our initiatives to remove unnecessary cost, simplify the business and ensure that Unilever is both agile and resilient.

“We are confident that we will achieve another year of profitable volume growth ahead of our markets, steady and sustainable core operating margin improvement and strong cash flow."

Unilever said that market growth continued to slow in the third quarter as macro-economic pressures affected consumer demand.

Emerging market growth remained weak with flat volumes.

Within this there was a sharp slow-down in China.

“We are now seeing early signs of improvement in North America as the impact of the economic recovery starts to be felt by consumers,” said Mr Polman.

“Europe declined in both volume and price with the impact of the poor summer weather on the ice cream category.”

TheMeatSite News Desk

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