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Updated Friday, February 3, 2012 1:05 pm TWN, Reuters

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Unilever forecasts tough 2012 as emerging markets growth slows

LONDON -- Consumer goods group Unilever said 2012 would likely be a difficult year as emerging market growth slows and Europe and North America stay flat, after matching 2011 sales forecasts helped by its own sharp price rises.

The Anglo-Dutch group, which pushed up the prices of brands such as Dove, Hellmann's, and Knorr to offset higher commodity costs, said on Thursday growth in emerging markets had now slowed due to those price rises and weak consumer confidence. Finance Director Jean-Marc Huet said growth in emerging markets such as Africa, Asia and Latin America stayed strong but the group needed to do better in Russia and eastern Europe where its own performance was sluggish.

“We have seen a deceleration in some markets and one or two are now more difficult, so our focus is on Russia and eastern Europe where we need to improve,” he told reporters.

The world's third-biggest consumer goods group reported underlying sales in 2011 rose 6.5 percent in line with forecasts of 6.4 percent, with fourth-quarter growth of 6.6 percent compared to rival Procter & Gamble which saw a 4-percent rise.

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