Unilever remains cautious on competition and raw material prices

Soup to detergent group Unilever booked underlying sales growth of 3.6% in the second quarter of 2010 but is warning of increases in competition and raw material prices.


The increase in total sales, including currency effects, acquisitions and divestments, was up 12.4% at €11.75bn.
The Anglo Dutch group warned after the publication of its first quarter figures against over-optimism and remains cautious.
‘We continue to operate under the assumption of slow economic growth particularly in developed markets where consumer confidence remains fragile,’ said CEO Paul Polman in a statement. ‘Our ability to increase prices will remain contrained despite rising commodity costs in the second half.’
Unilever is the world’s third biggest consumer foods group according to news agency Reuters.

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