We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Unilever Nv | LSE:UNV | London | Ordinary Share | NL0000388601 | NLG1.12 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS No 8267h UNILEVER PLC & NV 1st May 1998 UNILEVER RECORDS #754 MILLION PRE-TAX PROFIT IN FIRST QUARTER First Quarter 1998 First Quarter 1997 # millions # millions Turnover 7,072 7,179 -1% - continuing operations 7,072 6,551 +8% - discontinued operations 628 Operating Profit 719 526 +36% - continuing operations 719 437 +64% - discontinued operations 89 Operating Profit - continuing operations before exceptional items 708 503 +41% Pre-Tax Profit 754 482 +56% Net Profit - constant exchange rates 460 287 +60% - current exchange rates 426 296 +44% Earnings per share 5.67p 3.94p +44% Sales, expressed at constant exchange rates, decreased by 1% over the corresponding period last year. Excluding the disposal of Speciality Chemicals, sales in continuing operations rose by 8%. Operating profit was 36% higher than last year and before exceptional items the increase was 20%. For the continuing operations the increase in operating profit before exceptional items was 41%. Sales and profits were boosted by the fact that this quarter, for reporting purposes, was six days longer than the corresponding quarter last year. This benefit will reverse in the fourth quarter. Europe: sales unchanged due to disposals and pruning of non-priority categories. All corporate categories made good progress; particularly strong performance in home and personal care. Higher margins and strong profit growth reflected benefit of restructuring and portfolio management. North America: sales grew 8% despite disposals. Foods business had much better quarter; good growth achieved in home and mass personal care. Operating profit doubled and margins improved substantially. Africa & Middle East: sales up 21% with growth in all categories. Good performances in South Africa, Cote d'Ivoire, Egypt and Arabia. Profits grew strongly. High commodity prices boosted sales and profits from plantations. Asia & Pacific: sales increased 22%, partly through price increases due to higher costs caused by sharp currency devaluation. First signs of slowdown in consumption late in quarter. Continued investment to defend market positions. Sales and results increased strongly in India. Latin America: sales increase of 15% partly reflects benefit from 1997 acquisitions. In Brazil, Kibon made strong contribution to sales and profits and there was good growth in home and personal care. Good performance in Chile, Colombia and Mexico. Portfolio changes in 1997 helped strong margin and profit growth. UNILEVER RESULTS First Quarter 1998 The directors of Unilever announce the Group's unaudited results for the first quarter of 1998. First Quarter Financial Results At constant rates of exchange, sales decreased by 1% over the corresponding period last year; excluding the disposal of Speciality Chemicals, sales in continuing operations rose by 8%. Operating profit was 36% higher than last year and before exceptional items the increase was 20%. For the continuing operations the increase in operating profit before exceptional items was 41%. The positive swing in interest costs, reflecting the strong cash position, resulted in an increase in profit before tax of 56%. Net profit increased by 60%. At exchange rates current for each quarter, net profit increased by 44% in sterling and 45% in US dollars, reflecting the relative strength of these currencies, and increased by 60% in guilders. Sales and profits were boosted by the fact that this quarter, for reporting purposes, was six days longer than the corresponding quarter last year. This benefit will reverse in the fourth quarter. Business Performance The following commentary on the regions deals with the continuing businesses, and is based on operating profit before exceptional items, at constant rates of exchange. In Europe, sales were unchanged due to the impact of business disposals and the continuing pruning of non-priority categories. All corporate categories made good progress, with a particularly strong performance in home and personal care. The benefits from restructuring and portfolio management are reflected in higher margins and the strong profit growth. In North America, sales grew by 8% despite disposals. Our foods business had a much better quarter compared to a slow start last year, and we also achieved good growth in our home and mass personal care business. Operating profit doubled and margins improved substantially. In Africa and Middle East, sales were up 21%, with growth coming from all categories. There were good performances in South Africa, Cote d'Ivoire, Egypt and Arabia, and profits grew strongly. Higher commodity prices also boosted sales and profits from plantations. In Asia & Pacific, sales increased by 22%. This partly follows price increases in a number of East Asian countries reflecting higher costs as a consequence of sharp currency devaluation. Late in the quarter we saw the first signs of a slowdown in consumption. However, we continue to invest to defend our market positions through an active marketing program. India had another good quarter and sales and results increased strongly. In Latin America, the sales increase of 15% reflects, in part, the benefit from acquisitions made in 1997. In Brazil, Kibon made a strong contribution to sales and profits; we also had very satisfactory growth in our established home and personal care categories. There were good performances in Chile, Colombia and Mexico. The significant portfolio changes made in 1997 also helped the strong margin and profit growth. CONSOLIDATED PROFIT AND LOSS ACCOUNT (unaudited) In the profit and loss account given below, the results in both years have been translated at constant exchange rates, being the annual average exchange rates for 1997. This reporting convention facilitates comparisons since the impact of exchange rate fluctuations is eliminated. # millions First Quarter 1998 1997 Incr./(Decr) TURNOVER 7,072 7,179 (1)% Continuing operations 7,072 6,551 8 % Discontinued operations - 628 - % OPERATING PROFIT 719 526 36 % Continuing operations 719 437 64 % Discontinued operations - 89 - % Operating profit BEI - Continuing 708 503 41 % operations Income from fixed investments 5 4 Interest (net) 30 (48) PROFIT BEFORE TAXATION 754 482 56 % Taxation (269) (184) PROFIT AFTER TAXATION 485 298 62 % Minority Interests (25) (11) NET PROFIT AT CONSTANT 1997 460 287 60 % EXCHANGE RATES NET PROFIT AT EXCHANGE RATES 426 296 44 % CURRENT IN EACH PERIOD COMBINED EARNINGS PER SHARE -per 1.25p of ordinary capital 5.67p 3.94p 44 % ADDITIONAL INFORMATION (unaudited) CONSOLIDATED RESULTS BEFORE EXCEPTIONAL ITEMS The undernoted analysis provides supplementary information on the consolidated results for comparative purposes only. The results shown exclude the exceptional items taken in operating profit. # millions First Quarter at constant rates of 1998 1997 Incr./ exchange (Decr.) Operating Profit 708 592 20% Operating Profit - 708 503 41% Continuing operations * Profit before tax 743 548 36% Taxation (264) (209) 26% Net Profit 454 328 39% * Continuing operations excludes the results of the Chemicals Businesses sold to Imperial Chemical Industries on 8th July, 1997 GEOGRAPHICAL ANALYSIS # millions First Quarter 1998 1997 Turnover Europe 3,154 3,146 North America 1,409 1,299 Africa and Middle East 400 330 Asia and Pacific 1,226 1,005 Latin America 883 771 Sub-total 7,072 6,551 Discontinued Operations - 628 TURNOVER 7,072 7,179 Operating profit - before exceptional items Europe 316 263 North America 105 53 Africa and Middle East 38 27 Asia and Pacific * 136 82 Latin America 113 78 Sub-total 708 503 Discontinued Operations - 89 Exceptional Items 11 (66) OPERATING PROFIT 719 526 Operating margin - before % % exceptional items Europe 10.0 8.4 North America 7.4 4.1 Africa and Middle East 9.5 8.3 Asia and Pacific 11.1 8.2 Latin America 12.8 10.2 Sub-total 10.0 7.7 Discontinued Operations - 14.2 OPERATING MARGIN BEI 10.0 8.3 OPERATING MARGIN 10.2 7.3 * Note: At current average rates of exchange for the first quarter, 1998 operating profit for those countries in South East Asia which have experienced significant currency devaluation, reduces by approximately #30 million. The results for Turkey formerly reported under the Africa and Middle East region are reported within Europe from 1.1.1998. Results for 1997 have been restated on the same basis. NOTES Acquisitions and Discontinued Operations In the first three months of 1998 the effect on turnover and operating profit of acquisitions made in the period was #2.7 million and #0.1 million respectively. In 1997, the speciality chemicals businesses were discontinued as at the 8th July 1997. Net debt and gearing Net funds, at closing rates of exchange, were #3,189 million at the end of the first quarter compared to a net debt of #1,905 million at the same time last year. This improvement mainly reflects the impact of the disposal of the chemicals businesses in 1997. Exchange Rates The results for the quarter and the comparative figures for 1997 have been translated at constant average rates of exchange, being the annual average rates for 1997. For our reporting currencies these were #1 = Fl. 3.18 = US $1.64. In addition, the results and earnings per share have been translated at rates current in each period. These are based on #1 = Fl. 3.38 = US $1.65 for first quarter 1998 and #1 = Fl. 3.03 = US $ 1.63 for first quarter 1997. Change in Accounting Standards With effect from 1.1.98 the UK Standard FRS 10 on Goodwill is being adopted. Goodwill on acquisitions after this date will be capitalised on the Group Balance Sheet and amortised in operating profit over periods of up to 20 years. Previously goodwill was written off to reserves on acquisition. Goodwill will be amortised in results from the quarter following the quarter in which it is acquired. There is, therefore, no impact for this change in Q1 1998. Goodwill on acquisitions prior to 1.1.98 will not be capitalised nor will prior year results be restated for this change. Dates The results for the second quarter and first half year of 1998 will be announced on Friday 7 August 1998. This announcement will include interim balance sheet and cash flow information. 1 May 1998 Enquiries: Unilever Press Office 0171 822 6805 E-Mail: press-office.london@unilever.com Internet: http://www.unilever.com END QRFARAWKWVKSOAR
1 Year Unilever Nv Chart |
1 Month Unilever Nv Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions