Unilever sales fall less than expected as US outperforms

TheStar Thu, Jul 23, 2020 03:10pm - 3 years View Original


BENGALURU: Second-quarter sales at Unilever fell much less than expected as strong growth in North America helped to offset the hit from coronavirus lockdowns.

The Anglo-Dutch maker of Dove soaps and Knorr soups said on Thursday underlying sales fell 0.3% in the three months ended June 30, compared with analysts' mean forecast for a 4.3% drop.

That was still the first decline in quarterly sales since the third quarter of 2004, according to Jefferies analysts.

The consumer goods group also said that after exploring options for its 3 billion euro ($3.5 billion) a year tea business, it had decided to keep its operations in India and Indonesia and partnership interests in ready-to-drink tea joint ventures.

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