- 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.
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.