UK/NETHERLANDS: Unilever CEO cheers volume growth

By: just-food.com | 6 August 2009
  • Q2 volumes grow 2%
  • Net profit down 12%
  • Brands "improving share" - CEO

Unilever CEO Paul Polman said this morning (6 August) that he was "encouraged" to see volumes at the Anglo-Dutch food giant growing again during the second quarter.

The Knorr soup-to-Ben & Jerry's ice cream maker booked a 2% rise in sales volumes, beating some analysts' forecasts, and driving a 4.1% rise in underlying sales.

However, Unilever said net profit was down 12% at EUR997m (US$1.44bn) once the impact of restructuring, disposals and one-off items was stripped out of the numbers. On the same basis, operating profit fell 4% to EUR1.52bn.

On a reported basis, net profit was down 15% at EUR833m. Operating profit dropped 4% to EUR1.32bn.

Nonetheless, Polman added: "More of our brands are improving share again behind strong innovations, greater consumer value, increased marketing support and better execution."

Click here for the full second-quarter release from Unilever. Check back later for further comment from CEO Paul Polman and CFO Jim Lawrence.

Sectors: Baby food, Bakery, Chilled foods, Dairy, Frozen, Health & wellness, Ice cream, Snacks

Companies: Unilever, Knorr

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