Sales fall 3% but Unilever’s net gains 11%
Print Edition
Dutch food and cosmetics group Unilever yesterday reported an 11 percent rise in net profit for 2013 despite a 3 percent fall in sales.
Net profit amounted to 4.84 billion euros (US$6.56 billion).
Sales totaled 49.8 billion euros, undermined mainly by unfavorable exchange rates and also by the effect of asset sales.
However, if the effect of asset sales was taken out of the results to give a comparable figure, sales rose by 4.3 percent.
“Growth continued to slow in emerging markets as a result of the impact of economic uncertainty and currency depreciation on consumer demand,” Unilever said in a statement.
Emerging markets were leading sales increases, up 8.4 percent at constant rates compared with a 1.7 percent drop in developed markets, it added.
Unilever is one of the world’s leading suppliers of consumer goods and owns a variety of brands such as Lipton Yellow Label tea, Magnum ice cream, Knorr, Omo washing powder, Vaseline and Dove.
The Rotterdam-based group has invested massively in developing markets to compensate for the crisis in Europe and the US. Developing markets now account for over half of sales.
Despite overall slowing growth, some developing markets saw rising sales growth, including China, Russia, Indonesia and Turkey.
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