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Unilever Q1 sales developed markets growing 2.8%

Christian Fernsby |
Unilever announced its results for the first quarter of 2020, which show flat underlying sales developed markets growing 2.8% whilst emerging markets declined 1.8%.

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Topics: UNILEVER   

Underlying sales growth was 0.0% with 0.2% from volume and negative 0.2% from price.

Developed markets grew 2.8% whilst emerging markets declined 1.8%.

China declined as a result of the downturn in food service, out of home ice cream and retail sales during the lock-down.

Growth in India was impacted by both the slowing market and the lock-down implemented at the end of March, which stopped production and shipping for a number of days.

Latin America grew 4.9% whilst South East Asia was mixed, following the introduction of strict restrictions in the Philippines.

North America and Europe benefitted from household stocking, despite a decline in food service and ice cream.

E-commerce grew as shoppers moved from offline to online channels.

Turnover increased 0.2%.

There was a positive impact of 0.6% from acquisitions net of disposals and a negative impact of 0.4% from currency.

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