Unilever beats forecasts as emerging markets rebound
Consumer goods maker Unilever reported better-than-expected 2013 results today, with an improved performance in emerging markets after currency devaluations earlier last year hurt demand.
The Anglo-Dutch maker of Ben & Jerry's ice cream, Lipton tea and Dove soap - which generates more than half its sales from developing and emerging markets - said core earnings were 1.58 euros per share, above analysts' average estimate of about €1.53 per share.
Turnover for the full year fell 3pc hit by foreign exchange rates and divestments. But underlying sales rose 4.3pc, slightly ahead of analysts' expectations for a 4.2pc gain.
In the fourth quarter, underlying sales rose 4.1pc, fueled by 8.4pc growth in emerging markets.
Chief Financial Officer Jean-Marc Huet cited contributions from equity stakes in other companies and a favorable tax rate in addition to growth.