Share

Unilever beats forecasts

London - Consumer goods maker Unilever reported better-than-expected 2013 results on Tuesday, with an improved performance in emerging markets after currency devaluations earlier last year hurt demand.

The Anglo-Dutch maker of Ben & Jerry's ice cream, Lipton tea and Dove soap - which generates more than half its sales from developing and emerging markets - said core earnings were €1.58 per share, above analysts' average estimate of about €1.53 per share.

Turnover for the full year fell 3%, hit by foreign exchange rates and divestments. But underlying sales rose 4.3%, slightly ahead of analysts' expectations for a 4.2% gain.

In the fourth quarter, underlying sales rose 4.1%, fueled by 8.4% growth in emerging markets.

Chief financial officer Jean-Marc Huet cited contributions from equity stakes in other companies and a favorable tax rate in addition to growth.

No change in strategy

Unilever is not changing its strategy in emerging markets, its chief executive said, despite an economic slowdown last year that crimped consumer demand.

Growth in emerging markets remains well above that in developed markets, CEO Paul Polman said on a conference call.

Polman added that developed markets, which include the United States, have not seen any pick up in consumer demand despite improving economic indicators.


We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.07
-0.8%
Rand - Pound
24.01
-0.5%
Rand - Euro
20.55
-0.4%
Rand - Aus dollar
12.37
-0.1%
Rand - Yen
0.13
-0.8%
Platinum
890.97
-0.7%
Palladium
988.99
-1.3%
Gold
2,196.11
+0.1%
Silver
24.43
-0.9%
Brent Crude
86.09
-0.2%
Top 40
67,857
+0.3%
All Share
74,039
+0.2%
Resource 10
56,172
+0.9%
Industrial 25
103,559
+0.3%
Financial 15
16,472
-0.3%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders