Unilever revenues decline 3 per cent

Consumer goods maker Unilever this morning reported a decline in full-year turnover, as sales were hit by a slowdown in some emerging markets.

The maker of Magnum ice cream, Lipton tea and Dove soap, which generates more than half its sales from developing and emerging markets, said turnover for the full year fell 3 per cent, hit by foreign exchange rates and divestments.

Underlying sales rose 4.3 per cent for the year and 4.1 per cent in the fourth quarter.

Results in emerging markets were “pleasing,” despite decelerating economic growth and depreciating currencies, chief financial officer Jean-Marc Huet said by phone.

He said fourth-quarter sales rose more than 10 per cent in China and by 12 per cent in Latin America.

“There is a weakness in discretionary spending, but non- discretionary categories like skin cleansing and laundry are heating up.”

Agencies