Friday, February 6, 2009

Unilever posts rise in 4Q profits but wont' make forecasts for 2009

Unilever has refused to make a forecast for 2009 and has scrapped targets for 2010 amid the worsening economic conditions.
The FMCG giant, which owns brands such as Flora, Dove and Lynx, did however report a 28% rise in annual net profit as it unveiled its fourth quarter and full year figures. It made a net profit of £4.7bn in 2008 while underlying sales increased by a better-than-expected 7.3% in the final three months of the year.Market growth in Western Europe continued to slow and was approximately 2% in the last quarter due to the growth of own label products across the region. However in the UK sales were up by 4% for the full year and by more than 7% in the final quarter.

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