Unilever 1st Half Net Profit Rose Despite Coronavirus Hit on Food, Non-Hygiene Products
23 Julho 2020 - 03:54AM
Dow Jones News
By Matteo Castia
Unilever PLC reported Thursday a rise in net profit for the
first half despite the coronavirus headwind.
The Anglo-Dutch multisector retailer--which owns consumer brands
such as Ben & Jerry's ice cream and Dove soap--made a net
profit for the six months of 3.28 billion euros ($3.80 billion),
compared with EUR3.01 billion in the year-earlier period.
"In North America and parts of Europe there was a positive
impact from household stocking in March. Consumption patterns then
normalized in the second quarter with heightened levels of demand
for hygiene and in-home food products," the company said.
Turnover for the period decreased 1.6% on year at current rates
to EUR25.71 billion, slowed by significant drops in the food
service, out-of-home ice-cream, and non-hygiene personal-care
products. Underlying sales fell 0.1% on year, below its multiyear
target of 3% to 5% growth.
In December and January, the company warned that it would miss
its underlying sales growth target for the first half. At that
time, it said it expected sales to be second-half weighted and at
the bottom end of consensus for the full year.
In April, Unilever said the hit from Covid-19 lockdowns in big
emerging markets such as China and India was outweighing
stockpiling by consumers in the U.S., and it warned the crisis
could cause long-term changes in consumer behavior and demand
trends.
The board declared Thursday an interim dividend for the second
quarter of EUR0.4104.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
July 23, 2020 02:39 ET (06:39 GMT)
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