Unilver Raises Prices to Maintain Sales

By Saabira Chaudhuri 

LONDON-- Unilever PLC Thursday said its third-quarter revenue climbed 3.4% at constant currency as the company offset volume declines with higher prices.

The maker of Magnum ice cream and Dove shampoo posted third-quarter sales growth on an underlying basis--which strips out the impact of acquisitions, disposals and exchange-rate changes--of 3.2%, down from 5.7% growth in the same period a year earlier.

Including a negative currency impact of 3.4%, revenue was flat at EUR13.4 billion ($14.8 billion). Profit figures weren't disclosed.

The results come as the Anglo-Dutch consumer goods giant has been grappling with a slump in the pound following Britain's vote to leave the European Union. Unilever's products were unavailable on British grocer Tesco PLC's website as of Wednesday after Unilever demanded Tesco raise prices and the grocer refused.

On an underlying basis, Unilever reported sales growth in emerging markets weakened to 5.6% from 8.4% a year earlier. In developed markets, underlying sales growth was flat compared with 2.1% rise a year earlier.

Write to Saabira Chaudhuri at [e-mail]

(END) Dow Jones Newswires

October 13, 2016 02:42 ET (06:42 GMT)

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