Unilever H1 profit increased 2%
The maker of Magnum ice cream, Dove soap and Axe deodorant posted a first-half net profit of EUR2.51 billion ($2.77 billion), up from the EUR2.49 billion in the corresponding period a year earlier, while revenue fell 2.6% to EUR26.3 billion as a result of unfavorable currency movements.
Underlying sales--which strip out the impact of acquisitions, disposals and currency movements--grew 4.7%, which was better than the 2.9% that Unilever logged for the same period last year.
Diluted per-share earnings rose 1% to EUR0.88. After stripping out one-time items and currency movements, per-share earnings rose by 1.3% to EUR0.92.
Unilever has been working to mitigate the impact of a turbulent macroeconomic environment by raising prices and releasing premium versions of its products. The company has also adopted so-called "zero-base budgeting" or justifying each year's expenses from scratch to rein in costs. ■