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Unilever profits soar
Thursday 30th October 2008, 2:57PM GMT.
Unilever has posted a 60 per cent increase in profit for the third quarter, despite the economic downturn.
The consumer goods giant, which owns household brands including Dove, Domestos and Flora, said sales increased 8.3 per cent in the three months to September.
Volume held up despite price increases, which were brought in response to higher costs, Unilever said.
Disposals, including North American laundry and Lawry’s seasonings, also helped boost earnings.
“We have strengthened the business in a tough environment,” said Patrick Cescau, group chief executive.
Unilever expects to deliver underlying sales growth “well in excess” of its long-term target range of three to five per cent, together with an underlying improvement in operating margin for the year.
Unilever announced an interim dividend of €0.26 per NV share and 20.55p per PLC share.
Shares in Unilever rose by 0.60 per cent to £1.35 in afternoon trading.
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