Anglo-Dutch combines Shell, Unilever book growth in 2010

Oil giant Shell booked net profit of €13.5bn in 2010, almost double the previous year’s figure, the Anglo-Dutch company said on Thursday.


The company said the increase is due to higher gas and oil production and lower costs.
However, ‘earnings were impacted by weak refining margins, pressure on certain regional natural gas prices, and volatility in downstream marketing margins as a result of rising oil prices,’CEO Peter Voser said in a statement.
Unilever
Unilever’s net profit rose 26% to almost €4.6bn on sales up 11%. Emerging markets were a strong motor behind the growth and will continue to be so in 2011, the company said.
Unilever is to look for cost savings of some €1bn this year, on top of €1.4bn in savings made in 2010.
‘Despite intense competition and the return of commodity cost volatility, our objectives remain profitable volume growth ahead of our markets, steady and sustainable underlying operating margin improvement, and strong cash flow,’ CEO Paul Polman said in a website statement.

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