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Unilever disappoints on weakening sales

Thursday, October 23, 2014 - 00:57

Unilever posts its weakest quarterly sales growth in nearly five years, as Europe's woes and a slowdown in emerging markets including China crimp its performance. Axel Threlfall reports.

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SOUNDBITE: Axel Threlfall, Reuters, saying (English): ''Markets not especially happy with Unilever this morning. Q3 numbers....the weakest quarterly sales growth in nearly 5 years.... Stock down 3.7 percent....no big surprises why...persistent woes in Europe and a slowdown in emerging markets, including China...both sales growth and volumes coming in at the lower end of expectations....a 20% decline in underlying sales in China!....hence the move on the share price.... ''This was an unimpressive quarter from Unilever, where we thought the stars were nicely aligned" said an analyst at RBC Capital Markets, citing weak comparisons with a tough year-earlier period and proactive management of expectations from the company.... All that said, Unilever still expects to outperform its markets this year, and said its confident it'll achieve another year of profitable volume growth and strong cash flow...a familiar story from consumer goods companies...the big question - when do we start to see this impacting company profits....watch this space.''

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Unilever disappoints on weakening sales

Thursday, October 23, 2014 - 00:57