Client Login

Chinese (Simplified)English
Chinese (Simplified)English

login

Unilever upbeat despite soft ice cream sales

Unilever expects sales growth for its new financial year to be in the “lower half” of its 3-5% range after revenue fell “slightly below” expectations in 2019 because of a slowdown in the fourth quarter.

Chief executive Alan Jope, said: “While we expect an improvement from the fourth quarter of 2019 into the first half of 2020, first half underlying sales growth will be below 3%.”

Unilever forecasts an improvement in the second half of 2020 and its share price rose 1.3% to £45.00 in early trading.

But Mr Jope cautioned: “The impact of the coronavirus outbreak is unknown at this time.”

Home care, which includes cleaning brands such as Cif was Unilever’s stand-out division with sales rising by 6.1% last year.

In food, however, sales rose by 1.5% with ice cream facing tough comparisons to the previous year when hot weather in Europe increased demand for products such as Ben & Jerry’s.

Overall, Unilever said its turnover increased by 2% to €51.9bn (£43.9bn) for 2019.

Pre-tax profit fell by 32.9% to €8.3bn. In the previous year, Unilever had made a €4.3bn gain in 2018 after selling its margarine and spreads business.

Source – BBC News