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Unilever first-half 2010 results show turnover increase
By Shaun Weston
05 August 2010
Categories
Business
Dairy
Financial
Food
Half-year highlights
Turnover up 9.7% at €21.9bn.
Underlying volume growth 6.6%. Underlying sales growth 3.8% and underlying price growth (2.6)%. In-year pricing was stable.
Underlying operating margin up 30bps with continuing strong gross margins offset by significant investment in advertising and promotional expenditure, up 180bps.
Net cash flow from operating activities €2.2bn, up €0.2bn. Average trading working capital again reduced as a percentage of turnover and has now been negative for three successive quarters.li>Fully diluted earnings per share €0.70 up 36% reflecting improved operating profit, lower restructuring and the favourable impact of foreign exchange.
Second-quarter highlights
Underlying volume growth 5.7%. Underlying sales growth 3.6% with underlying price growth improving to (2.0)%. In-quarter pricing was again stable.
Underlying operating margin up 10bps with advertising and promotions spend up 140bps.
Source: Unilever
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