Unilever reports Q3 sales growth, turnover fall

Unilever reports Q3 sales growth, turnover fall

Unilever has reported a Q3 sales growth of 3.8 percent with a volume growth of 2.4 percent, however, turnover declined 4.8 percent year on year to 12.5 billion euros, according to the Financial Times.

The sales growth was attributed to increased prices to offset higher commodity costs and was in line with analyst forecasts.

Paul Polman, Chief Executive Officer, said, “We continue to expect underlying sales growth in the 3% – 5% range, an improvement in underlying operating margin and strong cash flow. We remain on track for our 2020 goals.”

Improvement was recorded in all three divisions and regions, with particularly strong volume growth in Asia AMET RUB (Africa, Middle East, Turkey; Russia, Ukraine and Belarus).

The sales growth is thought to have placated shareholders regarding the proposal to move its company headquarters from London to Rotterdam. Unilever withdrew the proposal this month following opposition from UK shareholders.