Unilever sales volumes up 3.6%

5th Nov 2009 07:13

Food and household goods giant Unilever saw third quarter pre-tax profits drop by 43%, but volume growth of 3.6% came in better than expected.Pre-tax profits dropped to €1.42bn in the three month ended September compared with €2.50bn last year. Turnover was down 2% at €10.20bn.Nomura Securities expected volume growth of 3.3%, while the consensus was only +2.3%. The Anglo-Dutch giant said all regions showed an improving trend in both volumes and operating margins in the third quarter. Gross margin was up 290 bps from efficiencies and lower costs.'Our market shares are responding to stronger innovations, greater consumer value, increased marketing support and better execution,' said chief executive Paul Polman.'Market conditions remain challenging and in this environment we will continue to increase investment behind our brands and build long-term capabilities in research and development. We are on track towards our objective of restoring volume growth while protecting margins and cash flow for the year as a whole.'