Unilever's sales hurt by currency fluctuations

Unilever's (UL) Q1 sales dropped 6.3% to €11.4B, hurt by currency weakness in emerging markets.

"Growth continued to slow in the emerging markets, particularly in South Asia and South East Asia," Unilever said. "Overall, developed markets remained weak although there were some further signs of improvement in southern Europe."

Underlying sales increased 3.6%, above analyst forecasts of 3.3% but softer than growth of 4.9% a year earlier.

Underlying selling volume +1.9% vs consensus of +1.7%; prices +1.6% vs +1.5%.

Sales breakdown: Personal Care €4.2B, Foods €3B, Home Care €2.2B, Refreshment €2.1B.

Declares quarterly interim dividends of €0.285 and £0.2338 a share. (PR)

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