Strong growth in emerging markets for Unilever

29th Apr 2010 07:09

Volume growth at Anglo-Dutch household products giant Unilever came in ahead of market expectations in the first quarter of 2010, with the company boasting of strong momentum across all geographic regions.Underlying volumes growth was 7.6%, versus market expectations of 5.4%.Turnover in the first quarter was up 6.7% from a year earlier to €10,143m, while underlying sales growth, at 4.1%, was below the 4.4% improvement stockbroker Charles Stanley had been predicting.Underlying sales growth was strongest in the Asia, Africa and CEE (Cerntral & Eastern Europe) region at 7.6%, while Western Europe and the Americas saw growth below the group average at 0.2% and 3.7% respectively."Growth was supported by the quickening pace of innovation and the introduction of brands such as Cif, Domestos, Lifebuoy and Lipton into new markets. Growth has been especially strong in emerging markets despite the heightened competitive activity," said Paul Polman, chief executive officer of Unilever.Operating profit was 17% higher than in the first quarter of 2009 at €1,438m while net profit surged 31% to €1,055m.A quarterly dividend of €0.208 has been declared, equivalent to 18.03p.