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Unilever first-quarter results show profit increase
Unilever has released its first quarter results for 2010, showing a 31% increase in net profit.
Highlights
- Underlying volume growth 7.6%. Underlying sales growth also accelerated to 4.1%. Underlying price growth was (3.3)% reflecting pricing action taken in 2009. In-quarter pricing was stable.
- Underlying operating margin up 60bps driven by improved gross margins and lower overhead costs, with advertising and promotions spend up by 220bps behind a strong innovation programme.
- Net cash flow from operating activities up by €666m, with over €300m from improved management of working capital.
- Fully diluted earnings per share increased by 32%. Second quarterly dividend will be increased by 6.7% over Quarter 1 to €0.208 per share.
Read the full Unilever financial statement here.
Source: Unilever
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