Unilever Q3 Turnover Down, Underlying Sales Up; Backs Outlook

(RTTNews) - Consumer goods giant Unilever (UN, ULVR.L, UL) reported Thursday that its third-quarter turnover declined 4.8 percent from last year to 12.5 billion euros.

The company noted that turnover was impacted by an adverse translational currency impact of 5.2%.

Underlying sales growth was 3.8 percent with volume growth of 2.4% and price increase of 1.4%.

Price growth in Argentina is excluded from underlying sales due to hyperinflationary status. Reported growth would otherwise have been 4.5%.

The company recorded improvement in underlying sales in all three Divisions and regions, with strong volume growth in Asia AMET RUB.

Paul Polman, Chief Executive Officer, said, "We continue to expect underlying sales growth in the 3% - 5% range, an improvement in underlying operating margin and strong cash flow. We remain on track for our 2020 goals."