Posted on 09/05/08
Unilever shares climb as profit beats estimates
Unilever, the world's second-largest maker of food and detergent, reported profit yesterday that beat analysts' estimates and said revenue will exceed its forecast for the first time in six years on increased prices and sales of Dove soap and Lipton tea. Unilever jumped the most in a year in London trading. First-quarter profit rose 33 per cent to €1.34-billion ($2.1-billion) after a €517-million gain, mostly from selling the Boursin cheese unit, London- and Rotterdam-based Unilever said. Chief executive Patrick Cescau raised prices 4.8 per cent in the quarter, helping to offset higher costs for soybean and palm oil. Latin America, Asia and Africa led revenue growth as sales in Germany declined. ULVR (London) rose 90 pence to £17.52 ($34.80).
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