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Unilever Q1 underlying sales growth 3.4%

Staff Writer |
Unilever reported that its first-quarter underlying sales growth, excluding spreads, was 3.7% with an encouraging shift to volume-led growth compared to the prior year.

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Underlying sales growth was 3.4%. On GAAP basis, first-quarter turnover decreased 5.2% to 12.6 billion euros, which included an adverse currency impact of 9.8% and 1.5% from acquisitions net of disposals. Turnover excluding spreads were 11.9 billion euros, down 5.2%.

For the full year, the Group continues to expect underlying sales growth in the 3% - 5% range and an improvement in underlying operating margin and cash flow that keep it on track for the 2020 goals.

The Group's quarterly dividend has been raised 8% to 0.3872 euros per share. A share buy-back programme of up to 6 billion euros is intended to start in May 2018.

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