Unilever beats estimates as emerging markets rebound
Consumer goods maker Unilever reported better-than-expected 2013 results on Tuesday, with an improved performance in emerging markets after currency devaluations earlier last year hurt demand.<br /><br />
Consumer goods maker Unilever reported better-than-expected 2013 results on Tuesday, with an improved performance in emerging markets after currency devaluations earlier last year hurt demand.
The Anglo-Dutch maker of Ben & Jerry's ice cream, Lipton tea and Dove soap - which generates more than half its sales from developing and emerging markets - said core earnings were 1.58 euros per share, above analysts' average estimate of about 1.53 euros per share.
Turnover for the full year fell 3 percent, hit by foreign exchange rates and divestments. But underlying sales rose 4.3 percent, slightly ahead of analysts' expectations for a 4.2 percent gain.
In the fourth quarter, underlying sales rose 4.1 percent, fueled by 8.4 percent growth in emerging markets.
Chief Financial Officer Jean-Marc Huet cited contributions from equity stakes in other companies and a favorable tax rate in addition to growth.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
Business process outsourcing firm Firstsource Solutions today reported 74.2 per cent jump in its net profit at Rs 40.2 crore for the fourth quarter ended March 31, 2013.