Anglo-Dutch household products and foods giant Unilever on Monday reported improved Q2 sales growth, at the same time making bullish noises about full-year prospects.
Underlying sales rose by 3%-4%, while the group’s core brands grew by 4.5%. But reported sales are unlikely to be better than ‘flat’ because of recent disposals. This, however, has not eroded the group’s confidence in meeting its projected annual earnings.
Unilever also announced its intention to boost adspend to maintain sales momentum for existing brands and launch new products.
Robust growth in earnings-per-share for Q2 is expected, increasing by about 20% per cent; annual earnings targets of low double digit growth are unchanged.
The City of London bookies, however, had clearly hoped for more and by close of trading Unilever stock had dipped marginally by £0.095 to £5.765 ($8.66; €8.89).
Data sourced from: Financial Times; additional content by WARC staff