Healthy First Quarter Profit for Unilever

Unilever’s net profit for the third quarter was €1,711 million ($2,227m), a 60 per cent increase from €1,068m during the same quarter of the previous year. Sales for the quarter were €10,427m ($13,569m), up two per cent from €10,243m during the same quarter of 2007. Results in the third quarter and nine months were helped by pricing actions and profits on disposals.

“We have strengthened the business in a tough environment,” said Patrick Cescau, group chief executive. “Despite the price rises needed in the light of unprecedented cost increases, our volumes are holding up. Our cost savings programs are far reaching and on-track to deliver. We have been reshaping the portfolio, allowing us to focus our resources where it matters most – behind our brands and our priority categories. All this leaves us well placed for the future.”

For the nine months, Unilever’s net profit was €4,096m ($5,330m), a 22 per cent increase from €3,349m during the same period of the previous year. Sales for the period were €30,372m ($39,494m), up slightly from €30,297m during the same period of the previous year.