Arab Today, arab today unilever reports 11 profit rise for 2013
Last Updated : GMT 06:51:55
Arab Today, arab today
Arab Today, arab today

Unilever reports 11% profit rise for 2013

Arab Today, arab today

Arab Today, arab today Unilever reports 11% profit rise for 2013

The Hague - AFP

Anglo-Dutch food and cosmetics group Unilever reported an 11.0-percent rise in net profit for 2013 on Tuesday despite a 3.0-percent fall in sales. Net profit amounted to 4.84 billion euros ($6.56 billion). Sales totalled 49.8 billion euros, undermined mainly by unfavourable exchange rates and also by the effect of asset sales. However, if the effect of asset sales were stripped out of the results to give a strictly 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 nevertheless leading sales increases, up 8.4 percent at constant rates compared to a 1.7 percent drop in developed markets, the company 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 United States, Developing markets now account for more than half of sales. Despite overall slowing growth, some developing markets saw expanding sales growth, including China, Russia, Indonesia and Turkey. European sales dropped 1.1 percent at constant rates in 2013. "Developed markets remained weak with little sign of any overall improvement despite the more positive macro-economic indicators in recent months," it said. Global fourth-quarter sales were in line with the rest of the year, up 4.1 percent to 11.8 billion euros. Unilever shares were up 3.81 percent at 29.93 euros at around 1130 GMT following the results announcement. Founded in 1930, the Dutch group employs some 173,000 people around the world.

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