Unilever third-quarter sales hit by poor weather and hurricanes | Progresiv
Unilever’s third-quarter sales fell short of estimates as a result of poor weather in Europe and natural disasters in the Americas reducing demand for its ice creams. Underlying sales increased by 2.6%, driven by emerging markets growth of 6.3%, while developed markets decreased by 2.3%. 
Turnover decreased by 1.6% to 13.2 billion euros, which included a negative currency impact of 5.1% as a result of the stronger euro. Acquisitions net of disposals added 1.1% to turnover.
Its spreads business declined 2%, an improvement on results earlier in the year. The company said that the preparation for the sale of its spreads unit is ‘fully on track’, with ADM reportedly interested. In September it secured a deal to sell its spreads business in southern Africa.
The company said it is continuing to evolve its portfolio at an accelerated pace to ensure it has the platforms in place for long-term growth in attractive market segments.
In the last three months, it has acquired Weis ice cream in Australia, Pukka Herbs tea in the UK and Mãe Terra organic food in Brazil.
Commenting on the results, CEO Paul Polman said: “The transformation of Unilever into a more resilient, more competitive and more profitable business continues and we are making good progress against the strategic objectives we have set out for 2020.
Unilever drew attention to its strong growth of Knorr Mealmakers as well as a successful brand relaunch of Hellmann’s.
Innovations within its premium brands are said to be performing well, including the new Magnum pints and Magnum double raspberry and coconut variants. (www.foodbev.com)
