Unilever Reports Slow Sales Growth for the Third Quarter
Unilever revealed that it has a slower growth for the third quarter on Thursday. This provided more proofs for a slowdown in rising markets, regarding hitting demand for its consumer commodities.
Unilever produces about half its yearly sales from developing and emerging markets. The company also told that it is expecting the growth in sales to be recovered in the fourth quarter.
Third-quarter sales revealed a 1.9% increase in volume and a 1.3% increase in prices. The figure was revealed by the company. The shares of Unilever were down 0.7% in London at 0710 GMT.
Unilever (UNA) is the second-biggest consumer-products maker in the world. It has reported the slowest quarterly sales growth in four years. The growth in sales was decreased because the demand for its soaps and spreads turned down around the globe.
Unilever said that last month the sales growth in the quarter would be 3% compared to 3.5%. In Europe, Unilever sold extra products on the whole as it cut prices and as warmer weather increased the demand for frozen treats in the northern region, bringing underlying sales growth to 0.4%.
"The absence of mature market growth is a salient feature relative to a number of its peers", Oriel Securities analyst Chris Wickham said in a note to clients.