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Unilever pinched by slowdown in emerging markets

Unilever: growth slowed in emerging markets in third quarter, no recovery in Europe

Unilever pinched by slowdown in emerging markets

AMSTERDAM (AP) -- Unilever PLC, the maker of ice cream, soaps, deodorants and laundry detergents, says its "underlying" third quarter sales grew by 3.2 percent on a combination of price hikes and higher volumes.

In a trading update Thursday, it said growth has slowed in developing countries as consumers there lost purchasing power due to weak currencies. It added that markets in industrial countries "have not recovered and remain flat to down."

Unilever said that reported revenues fell 6.5 percent to 12.5 billion euros ($17.2 billion) due to the strong euro.

The consumer goods giant said personal care products such as Dove soap and Vaseline performed most strongly. Its refreshments arm -- which makes Lipton tea and Ben & Jerry's ice cream, among others -- suffered from weakness in southern Europe.

Updated : 2022-01-23 20:08 GMT+08:00