Unilever cautious despite profit growth
CONSUMER products giant Unilever has reported a 7% increase in pre-tax profit last year to €7.6bn, but said it is concerned about growth prospects for 2015.
The international group, which has its roots firmly in the region – where it is planning significant investment – owns brands such as Hellmann’s mayonnaise and Ben and Jerry’s ice cream, said sales declined 2.7% to €48.4bn due to a negative currency impact.
During the year it said it faced “significant economic headwinds and weak markets”. In 2015, the group said it expects similar market conditions and competitive pressure.
Chief executive Paul Polman says: “We do not plan on a significant improvement in market conditions in 2015. Against this background, we expect our full year performance to be similar to 2014 with the first quarter being softer but growth improving during the year.”
The company added: “Growth was weak in emerging markets as economic pressures impacted consumer demand. Developed markets were flat, with a modest pick-up in North America partly offsetting market contraction in Europe. Globally, our markets grew by around 2.5% with flat volumes.”
Two weeks ago Unilever, welcomed Prime Minister David Cameron and Chancellor George Osborne to its regional base at Port Sunlight, where a £200m investment programme was revealed.
