Strong first quarter for Unilever

Anglo-Dutch food to detergents group Unilever, posted strong first quarter earnings on Thursday, with net profit up 31% to over €1bn. Turnover was 6.7% higher at €10bn.

Growth was strongest in Asia, Africa and Latin America although turnover was up across all territories, the company said in a statement.
Unilever said the proimising figures are the result of cost savings, better than expected raw material prices and an increased spend on advertising.
Nevertheless, the company is not overly optimistic about the rest of the year. CEO Paul Polman said in the statement: ‘We will face a tougher environment as the year progresses and thus it is more important than ever to stay focussed on the consumer.’
‘Commodity costs will increase in the second half, economies remain sluggish and competitive intensity will remain high.’