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Unilever FY19 Profit Declines; Underlying Sales Growth At 2.9%

Unilever plc (UN,ULVR.L,UL) reported profit before tax of 8.29 billion euros for full year 2019 compared to 12.36 billion euros, previous year. Earnings per share was 2.14 euros compared to 3.48 euros. Underlying earnings per share was 2.55 euros compared to 2.35 euros.

Fiscal year turnover increased 2% to 51.98 billion euros from 50.98 billion euros. Underlying sales growth was 2.9% with 1.2% volume and 1.6% price.

Alan Jope, CEO, said: "We saw strong growth from emerging markets and our Home Care division. Overall growth was slightly below our guided range for the year due to the slowdown we saw in the fourth quarter."

For 2020, Unilever plc projects underlying sales growth to be in the lower half of the multi-year 3-5% range and to be second-half weighted. First half underlying sales growth will be below 3%, the Group said.

Unilever plc stated that the Group is continuing to evaluate its portfolio and has initiated a strategic review of its global tea business.

The Board has declared a quarterly interim dividend of 0.4104 euros per Unilever N.V. ordinary share, payable in March 2020.

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