Unilever Backs 2017 Guidance; Dual-Headed Structure Review Progressing

By Ian Walker

Unilever NV (UNA.AE) Tuesday backed its 2017 guidance and said the review of its dual-headed legal structure is progressing well.

The Anglo-Dutch consumer products company said it continues to expect underlying sales growth of 3% to 5%, an improvement in underlying operating margin of at least 100 basis points, and strong cash flow delivery.

Unilever, which houses the Ben & Jerry's, Dove and Hellmann's brands among its portfolio, also said that the exit from its spreads business via sale or demerger remains fully on track.

The company has previously announced plans to review its dual-headed structure as it believes a single share class provides greater ongoing strategic flexibility for value-creating portfolio change.

As part of this unification, the company plans to maintain listings in the Netherlands, the U.K. and the U.S., as well as continue to apply both the U.K. and Dutch corporate governance codes.

Shares in London at 0805 GMT were up 28 pence, or 0.7%, at 4264.50 pence.

Write to Ian Walker at [e-mail]; @IanWalk40289749

(END) Dow Jones Newswires

November 28, 2017 03:35 ET (08:35 GMT)

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