Volumes up and turnover down at Unilever

14th Apr 2016 07:12

(ShareCast News) - FTSE 100 consumer goods company Unilever reported growth in underlying sales and volume on Thursday, though its top line declined in its first quarter update.Underlying sales growth was up 4.7%, with emerging markets up 8.3%, while underlying volume grew 2.6% and pricing advanced 2%.Unilever's turnover declined 2%, however, to €12.5bn (£9.96bn), which included a negative currency impact of -7.1%.Turnover in personal care totalled €4.8bn, foods were €3.1bn, home care turnover was €2.4bn, and refreshment was €2.2bn.The group's board declared a quarterly dividend of €0.3201 per share, an increase of 6%."The first quarter demonstrates a strong volume-driven performance, following on from a good delivery in 2015," said Unilever chief executive officer Paul Polman."We are maintaining momentum despite a tougher external environment, with all four categories gaining market share. This broad-based growth, including over 8% in emerging markets, shows the validity of our strategy, portfolio management and a step-up in innovation."Polman said that, with markets remaining volatile, Unilever was focusing in driving agility and resilience in its business through a number of key programmes - net revenue management, zero based budgeting and the next stage in the firm's 'continued organisational transformation'."This will position us well to deliver another year of volume-driven growth ahead of our markets, steady improvement in core operating margin and strong cash flow."These underpin sustained long-term value creation for our shareholders," he added.