Unilever (UNA), the maker of Magnum ice cream and TRESemme shampoo, reported first-quarter sales growth that beat estimates as demand stabilized in Europe and the company outperformed its markets in Asia and Latin America.
Underlying sales gained 3.6%, London- and Rotterdam-based Unilever said today in a statement, compared with the 3.% median estimate of 10 analysts surveyed by Bloomberg News. Growth slowed from the fourth quarter’s 4.1%.“We delivered good growth in the first quarter despite slowing markets and a tough competitive environment, further evidence that Unilever is now delivering consistently ahead of our markets,” Chief Executive Officer Paul Polman said in the statement.Unilever had already signaled that underlying sales growth would slow in the first quarter. Chief Financial Officer Jean-Marc Huet in January forecast a gain at the “low end” of 3% to 5%.Underlying selling volume in the quarter rose 1.9%, Unilever said, beating the 1.7% median estimate of nine analysts. Prices increased 1.6 percent, compared with the median estimate for a 1.5% gain.Unilever shares were little changed at €30.69 in Amsterdam trading yesterday.
Bloomberg
