Unilever profit up 35% as heat spurs tea, ice-cream sales

Deals

Unilever, the maker of Knorr soups and Dove soap, said Q2 profit increased 35% after climbing temperatures spurred European sales of ice cream and ready-to-drink teas and a writedown wasn't repeated. Net income advanced to €986 million from €731 million a year earlier, the Rotterdam and London-based company said in a Regulatory News Service statement today.
Sales rose 3.3% to €10.3 billion. Warmer weather combined with the soccer World Cup, played for four weeks through July 9, to stoke sales Magnum ice-cream bars and bottled Lipton iced teas. Unilever has been struggling to catch competitors including Nestle SA and Reckitt Benckiser Plc, which have been quicker to meet changing consumer tastes. "The first-half year results give me confidence that we have largely succeeded in restoring competitiveness," CEO Patrick Cescau said in the statement. "I am also particularly encouraged by the resumption of growth in Europe." (Bloomberg)

ADVERTISEMENT

17% of homeowners plan renovations this year Analysis

17% of homeowners plan renovations this year

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.