Unilever Lifts Full-Year Margin Guidance as Profit Rises

By Rory Gallivan

LONDON--Consumer goods company Unilever PLC (ULVR.LN) on Thursday posted a rise in first-half net profit and predicted that margins will be better than previously expected over the full year.

The Anglo-Dutch company, whose brands include Hellmann's mayonnaise and Domestos bleach, reported net profit of 3.11 billion euros ($3.58 billion) for the six months ended June 30, up from EUR2.51 billion the previous year. Revenue rose to EUR27.72 billion from EUR26.28 billion.

Unilever also declared a second quarterly dividend of 35.85 euro cents a share, the same as the first quarter dividend.

It is now predicting a 100 basis point improvement in underlying operating margin over the full year, up from previous expectations of an 80 basis point improvement.

The company said it remains on track for underlying sales growth of between 3% and 5% over the full year.

Underlying sales growth was 3% in the second quarter but should accelerate in the second half of the year, helped by increased marketing spending.

-Write to Rory Gallivan at [e-mail]; Twitter: @RoryGallivan

(END) Dow Jones Newswires

July 20, 2017 02:36 ET (06:36 GMT)

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