A poor summer and continued weakness in the spreads category have contributed to a decline in turnover for Unilever during the first nine months of the year.
The Knorr maker said group turnover fell 4.3% to EUR36.3bn (US$45.9bn) in the period. Underlying sales for the nine months were however up 3.2%.
Go deeper with GlobalData
Unilever’s foods segment saw underlying sales fall 0.5% for the nine months as it continues to face a decline in spreads. The firm said it gained “significant market share in margarine but this was not sufficient to offset the overall decline of the category”.
In refreshments, Unilever said a “strong start to the year” was dampened by a poor summer across Europe. Underlying sales growth for the nine months was up 3.5% but for the quarter was flat at 0.5%.
While overall, the group reported underlying sales growth of 2.1% for the third quarter, the figure missed analyst expectations of 3.7% according to a company-compiled consensus. Weakness in emerging markets and a negative currency effect were said to have contributed.
See Also:
Shares in Unilever fell 2.5% to GBP24.68 per share at 09.43 BST today (23 October).
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
