Emerging markets growth slows for Unilever

CONSUMER products giant Unilever reported weaker third quarter growth figures due to a slowdown in emerging markets.

The Anglo-Dutch group, behind household brands such as PG Tips, Hellman’s mayonnaise and Persil washing powder, reported underlying sales growth of 3.2% down from 5.9% last year.

Growth in emerging markets slowed to 5.9% from 12.1% a year earlier. Group revenue fell 6.5% to £10.6bn.

Unilever, which is investing £40m at its Port Sunlight base near Liverpool to create a centre of excellence, is now the third-biggest consumer goods group after Nestle and Procter & Gamble. It is focusing on high-growth regions like Latin America and Asia which now account for around 57% of sales as European markets slow.

Chief Executive Paul Polman said: “Emerging markets continue to be the main driver of our growth and, despite the current slow-down, they remain a significant growth opportunity which the company is well-placed to capitalise on.”