UK: Unilever maintains double digit EPS outlook

Anglo-Dutch consumer products group Unilever said it is making good progress with the integration of US foods group, Bestfoods , which it acquired in June last year. The company said that it was on line to deliver a cost synergy target by 2003 from the Bestfoods acquisition of US$750 million with US$375 million to be delivered in 2001. Unilever added it was comfortable with its double-digit earnings outlook for 2001 and expected full year sales growth for its leading brands to grow by around 19%. The company is presently carrying out an aggressive restructuring and procurement program that will fund increased investment behind its brands and improved operating margin.