Consumer goods maker Unilever (ULVR.L) (UNc.AS) reported better-than-expected 2013 results on Tuesday, with an improved performance in emerging markets after currency devaluations earlier last year hurt demand.
The Anglo-Dutch maker of Ben & Jerry’s ice cream, Lipton tea and Dove soap – which generates more than half its sales from developing and emerging markets – said core earnings were 1.58 euros per share, above analysts’ average estimate of about 1.53 euros per share.
Turnover for the full year fell 3 percent, hit by foreign exchange rates and divestments. But underlying sales rose 4.3 percent, slightly ahead of analysts’ expectations for a 4.2 percent gain.
In the fourth quarter, underlying sales rose 4.1 percent, fueled by 8.4 percent growth in emerging markets.
Chief Financial Officer Jean-Marc Huet cited contributions from equity stakes in other companies and a favorable tax rate in addition to growth.
REUTERS
