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NewsBreak: Unilever Upholds 2020 Targets After In-Line 3Q Revenue

Investing.com

Investing.com -- Consumer goods giant Unilever (LON:ULVR) upheld its guidance through next year Thursday after revenue grew at an annual rate of 5.8% in the third quarter to 13.25 billion euros ($14.6 billion), while underlying sales grew 2.9%.

Emerging markets and home care products were the key growth drivers. Emerging market sales grew at 5.1% with strong growth across South East Asia compensation for a growth slowdown in India, its biggest market in the region. Underlying sales of home care products rose 5.4% from a year earlier.

"For the full year, we continue to expect underlying sales growth to be in the lower half of our multi-year 3%-5% range, an improvement in underlying operating margin that keeps us on track for the 2020 target and another year of strong free cash flow," Chief Executive Alain Jope said in a statement.

Quarterly dividend 36p / 0.41 euros

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