Emerging markets and exchange rates raise Q3 sales 10.3 percent for Unilever
October 26, 2012, 12:03 am TWN
THE HAGUE -- Anglo-Dutch food and cosmetics giant Unilever said Thursday that its third quarter sales soared 10.3 percent to 13.36 billion euros (US$17.33 billion), lifted by emerging markets and favorable exchange rates.
The figure was slightly higher than the 13.28 billion euros predicted by analysts questioned by Dow Jones Newswires.
The impact of favorable exchange rates was valued at 4.1 percent. Underlying sales growth stood at 5.9 percent year on year with underlying sales growth by volume up 3.4 percent and by price up 2.4 percent.
"Market volumes continued to grow in emerging markets," Unilever said, where sales were up 12.1 percent.
Sales in Europe were up just 0.9 percent and Unilever has had to lower its prices as the debt crisis continues to bite.
"It is clear that the environment will remain challenging," said chief executive Paul Polman in a statement. "Commodity cost inflation is high and remains volatile and there is no sign that the level of competition will ease."