18th Apr 2019 07:24
LONDON (Alliance News) - Unilever PLC on Thursday said its revenue dipped in the first quarter of 2019, due to the sale of its spreads business, but said it is on track to meet its expectations.
Moreover, Unilever also upped its quarterly dividend to EUR0.4104 per share, a 6.0% rise from its EUR0.3872 dividend for the same quarter of 2018.
The Anglo-Dutch consumer goods firm, which makes Persil laundry detergent and Hellmann's mayonnaise, posted revenue of EUR12.42 billion for the three months to March 31, down 1.6% from EUR12.62 billion the year before.
This was the result of the sale of its spreads business, which included brands like Flora and I Can't Believe It's Not Butter, to KKR & Co LP for EUR6.83 billion. The deal closed in July 2018.
For the quarter, underlying sales growth was 3.1%, with 1.2% attributed to volume and 1.9% to price. In 2019 as a whole, the company expects to report underlying sales growth in the lower half of its 3% to 5% range.
Unilever Chief Executive Alan Jope said: "We have delivered a solid start that keeps us on track for our full year expectations. Growth was led by emerging markets and was balanced between volume and price.
"Accelerating growth is our number one priority. It requires both great execution and a continued strategic shift into faster growth segments and channels. We saw good performance in key growth channels including out of home and e-commerce and benefited from stronger global innovations and faster and more relevant local innovation. The acquisitions we have made since 2015 collectively grew double-digit in the first quarter. With the leadership changes announced in March, we are building the right team to drive our growth agenda."
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