Unilever H1 Pretax Profit Rises; Underlying Sales Up 3.0% - Quick Facts

(RTTNews) - Unilever plc (UN, ULVR.L, UL) reported that its first-half profit before tax increased to 4.63 billion euros from 3.64 billion euros, prior year. Profit to shareholders' equity was 3.11 billion euros or 1.09 euros per share compared to 2.51 billion euros or 0.88 euros per share, prior year. The Group recorded a gain on disposal of 0.3 billion euros for the AdeS soy beverage business in Latin America during the reporting period.

First-half underlying profit attributable to shareholders' equity increased year-over-year to 3.21 billion euros from 2.81 billion euros, a year ago. Underlying earnings per share was 1.13 euros compared to 0.99 euros. Underlying earnings per share in the first half increased by 14.4%, including a positive currency impact of 2.6%. Constant underlying earnings per share increased by 11.8% primarily driven by underlying sales growth and improved underlying operating margin, and partially offset by a higher tax rate.

First-half turnover was 27.72 billion euros compared to 26.28 billion euros, a year ago. Turnover increased 5.5%, which included a positive currency impact of 1.7% and 0.8% from acquisitions net of disposals. Underlying sales growth was 3.0% during the first half.

Paul Polman, CEO, stated: "The actions we are taking keep us on track for another year of underlying sales growth ahead of our markets, in the 3 - 5% range. We anticipate accelerating growth in the second half of the year driven by the phasing of our innovation plans and a step-up in brand and marketing investment. We now expect an improvement in underlying operating margin this year of at least 100 basis points and strong cash flow."