Unilever sales jump on higher prices

City A.M. Reporter
CONSUMER goods giant Unilever beat expectations by posting a 7.8 per cent rise in third quarter revenues yesterday, after it hiked prices and saw strong growth in emerging markets.

The Dove soaps and Hellmann’s mayonnaise group raised prices nearly six per cent while strong sales in emerging markets like India, Indonesia and Brazil helped offset tough conditions in the mature markets of western Europe and the United States.

The group cautioned that underlying operating margins in 2011 will be flat to slightly down due to the impact of commodity cost inflation.

The firm posted third-quarter underlying sales growth of 7.8 per cent, beating a company compiled consensus for a rise of 6.3 per cent.