Unilever posts 33% jump in Q1 profit
By Toby Sterling |
April 30, 2010, Friday
|
Print Edition
Print Edition
UNILEVER NV, the maker of Lipton tea, Dove soap and Ben & Jerry's ice cream, reported a 33 percent rise in first-quarter net profit yesterday, as the company boosted sales by lowering prices and improved margins by cutting costs.
Unilever reported net profit of 973 million euros (US$1.28 billion), compared with 731 million euros in the same period a year earlier. Sales rose 6.7 percent to 10.1 billion euros.
Chief Executive Paul Polman said margins were helped by lower commodity costs and lower overhead. The company actually increased advertising spending.
He said Unilever plans to continue following its current strategy: playing off customer preferences for a good deal over a prestigious brand.
That strategy is also winning the firm market share in most areas, Unilever said.
Unilever reported net profit of 973 million euros (US$1.28 billion), compared with 731 million euros in the same period a year earlier. Sales rose 6.7 percent to 10.1 billion euros.
Chief Executive Paul Polman said margins were helped by lower commodity costs and lower overhead. The company actually increased advertising spending.
He said Unilever plans to continue following its current strategy: playing off customer preferences for a good deal over a prestigious brand.
That strategy is also winning the firm market share in most areas, Unilever said.
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