FDBusiness.com

Unilever Predicts Continued Slow Economic Growth

 Breaking News
  • New Chief Executive For Tate & Lyle Tate & Lyle, a global provider of ingredients and solutions to the food, beverage and other industries, with operations in over 30 locations worldwide, has appointed Nick Hampton as Chief Executive with effect from 1 April 2018. Nick Hampton is currently Chief Financial Officer and a Board member of Tate & Lyle. Nick Hampton succeeds Javed [...]...
  • Müller Direct Next Generation Müller, Britain’s biggest producer of branded and private label fresh milk, butter, yogurt, desserts and dairy ingredients, has announced a new initiative to help ambitious young farmers build vibrant dairy businesses for the future. Müller will initially work closely with a group of approximately 25 Müller Direct young farmers who have the potential to create [...]...
  • New Geographical Indication From the Netherlands The Commission has approved the addition of a new product from The Netherlands to the quality register of Traditional Speciality Guaranteed (TSG). ‘Suikerstroop’ is dark brown syrup made of the syrupy liquid left behind during the production of sugar from sugar beet or sugar cane. It has a sweet taste due to its large sugar content (at [...]...
  • Firmenich Extends Capability to Design Innovative and Sustainable Natural Ingredients Firmenich has established an exclusive partnership with Blue Marble Biomaterials, a leading US biotechnology company specialized in natural and sustainable ingredients. With this partnership Firmenich gains direct access to key expertise, from biomimicry to non-GM fermentation, enabling the design of innovative and sustainable natural ingredients for the food, beverage and flavor industries. “At Firmenich, we are committed to [...]...
  • Tetra Pak Pledges Support For EU Plastics Strategy Tetra Pak has pledged to support the European Commission’s Plastics Strategy, announced as part of the EU Action Plan for a Circular Economy. The company will: Work with industry partners to ensure that by 2030, recycling solutions are in place for all components of beverage cartons so they can be fully recycled across Europe; Substantially increase the use [...]...

Unilever Predicts Continued Slow Economic Growth

Unilever Predicts Continued Slow Economic Growth
August 05
11:57 2010

Unilever has reported a 35% increase in net profit to Eur2.21b on turnover ahead by 9.7% to Eur21.89b with underlying sales growth of 3.8% for the first half of 2010. Group operating profit rose by 20% to Eur3.07b.

Although prices were down by 2.6% during the first half, this was offset by underlying volume growth of 6.6%. The underlying operating margin advanced 30bps with continuing strong gross margins offset by significant investment in advertising and promotional expenditure, up 180bps.

Market growth in developed economies remains depressed whilst emerging market growth remains strong. Within its Western European region, markets were difficult, particularly in southern European countries such as Greece, Spain and, to a lesser extent, Italy.

Paul Pulman, chief executive of Unilever.

Unilever’s global ice cream and beverages business increased underlying sales growth by 5.1% in the first half while savoury, dressings and spreads grew at a less impressive 0.3%.

“We continue to operate under the assumption of slow economic growth, particularly in developed markets where consumer confidence remains fragile. We do not expect competitive pressures to ease and our ability to increase prices will remain constrained despite rising commodity costs in the second half. We still expect underlying price growth to turn positive towards the end of the year,” says Paul Pulman, chief executive of Unilever. “Notwithstanding this difficult environment and comparators which get tougher as the year progresses, the results confirm again that our strategy to focus on the consumer and to accelerate growth is working. Our priority remains to drive profitable volume growth and strong cash flow along with steady and sustainable improvement in operating margin for the year as a whole.”

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • January 17, 2018Anfas Food Product
  • January 19, 2018International Green Week
  • January 20, 2018Sigep Rimini
  • January 24, 2018International Bulk Wine and Spirits Show (IBWSS)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements