Unilever Q3 Turnover Declines; Backs FY Underlying Sales Growth View

(RTTNews) - Consumer goods giant Unilever plc (UN, ULVR.L, UL) reported Thursday that its third-quarter turnover declined 1.6 percent from last year to 13.2 billion euros.

Turnover excluding spreads was 12.5 billion euros, down 1.5 percent from the prior year.

Underlying sales growth was 2.6 percent with price up 2.4% and volume up 0.2%, while underlying sales growth excluding spreads was 2.8 percent.

Growth in the quarter was adversely affected by poorer weather in Europe and natural disasters in the Americas. Emerging markets underlying sales growth in the third quarter was 6.3% with volume up 1.8%.

Home Care and Personal Care sales were 7.6 billion euros, representing underlying sales growth of 2.7 percent. Foods and Refreshment sales were 5.6 billion euros, representing underlying sales growth of 2.3 percent.

Turnover increased 3.1% in the first nine months.

Further, the company announced quarterly dividend payable in December of 0.3585 euro per share.

The company recorded good progress against the strategic objectives set out for 2020.

Paul Polman, Chief Executive Officer, said, "While conditions in our developed markets remain challenging, we are starting to see signs of improvement in some of our biggest emerging markets including India and China. … For the full year, we continue to expect underlying sales growth within the 3 - 5% range, an improvement in underlying operating margin of at least 100 basis points and strong cash flow."