Anglo-Dutch consumer goods giant Unilever Plc (UL,ULVR.L,UN) Thursday said its underlying sales for the first quarter grew 4.9 percent from last year, with emerging markets growth of 10.4 percent. The board also declared a higher quarterly dividend.
Underlying volume improved 2.2 percent and pricing was up 2.6 percent from the previous year. Looking ahead, the firm aims for another year of profitable volume growth ahead of its markets, steady and sustainable core operating margin improvement, and strong cash flow.
In a trading statement, the company said its turnover for the period improved 0.2 percent to 12.2 billion euros.
Emerging markets saw double-digit growth despite continuing macro-economic headwinds, and represented over 57 percent of total turnover. Meanwhile, growth in developed markets remained sluggish. Europe faced a particularly strong prior year comparator, the firm said.
Unilever experienced continued strong growth from Home Care and Personal Care and modest growth from Refreshment, despite a much slower start to the ice cream season in Europe. Brands like Lifebuoy, Dove, Domestos, Knorr and Signal continue to perform well.
Foods performance was mixed, whilst savoury and dressings performed well. Spreads category continued to be under pressure, the Group stated.
Underlying sales growth in Personal Care was 8.3 percent, Home Care sales climbed 9.4 percent and Refreshment saw underlying sales growth of 2.2 percent. In Foods segment, sales were down 0.5 percent from last year.
Paul Polman, chief executive officer of the company said, "We maintained good growth momentum in the first quarter despite challenging economies and the tough competitive environment. This performance is further evidence that Unilever is becoming fit to win and capable of delivering consistent growth ahead of our markets."
The board has declared a quarterly interim dividend of 0.2690 euros per Unilever N.V. ordinary share, representing an increase of 10.7 percent from last year. The dividend will be paid on June 12, to shareholders of record on May 10.
The company said there has been no material change to its financial position since publishing its 2012 financial statements.
In London, Unilever shares are currently trading at 2,789 pence, down 56 pence or 1.97 percent.
In Amsterdam, the shares trade at 31.89 euros, down 1.95 percent.
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