Unilever beats forecasts

CONSUMER goods maker Unilever has reported better-than-expected 2013 results.

The Anglo-Dutch maker of Ben & Jerry’s ice cream, Lipton tea and Dove soap - which generates more than half its sales from developing and emerging markets - said core earnings were 1.58 euros per share, above analysts’ average estimate of about 1.53 euros per share.

Turnover for the full year fell three per cent, hit by foreign exchange rates and divestments. But underlying sales rose 4.3 per cent, slightly ahead of analysts’ expectations for a 4.2 per cent gain.

Hide Ad
Hide Ad

In the fourth quarter, underlying sales rose 4.1 per cent, fueled by 8.4 per cent growth in emerging markets.

Chief financial officer Jean-Marc Huet cited contributions from equity stakes in other companies and a favourable tax rate in addition to growth.