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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Unilever PLC | EU:UNA | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.66 | 1.39% | 48.25 | 47.82 | 48.30 | 48.33 | 47.79 | 47.89 | 2,084,186 | 16:40:00 |
By Maryam Cockar
Unilever PLC (ULVR.LN) said Thursday that revenue for the first quarter of 2018 fell 5.2% due to adverse currency movements and the impact of disposals, and that it will return 6 billion euros ($7.43 billion) to shareholders.
The group, whose brands include Dove soap and Ben & Jerry's ice cream, said revenue for the quarter was EUR12.60 billion compared with EUR13.30 billion in the same period a year earlier. Revenue, excluding the spreads business the company recently sold, was EUR11.90 billion.
Underlying sales, which strips out the impact of foreign-exchange movements, grew 3.4% compared with 2.9% growth the previous year. Excluding the spreads disposal, underlying sales growth was 3.7%.
The FTSE 100-listed company's underlying sales growth was 5.1% in emerging markets, down from the 6.1% growth reported a year earlier. In developed markets, sales declined by 1.1%, a deterioration from the 1.5% fall last year.
The company said it will start a share buyback program of up to EUR6 billion in May in order to return the expected after-tax proceeds from the spreads disposal to shareholders.
Unilever raised the quarterly dividend to EUR0.3872 a share from EUR0.3585.
Chief Executive Paul Polman said for 2018 Unilever continues to expect underlying sales growth in the range of between 3% and 5%, and an improvement in underlying operating margin and cash flow to keep the group on track to meet its 2020 goals.
Write to Maryam Cockar at maryam.cockar@dowjones.com
(END) Dow Jones Newswires
April 19, 2018 02:50 ET (06:50 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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