Dutch food and cosmetics giant Unilever on Thursday posted a 5.5 percent rise in net profit boosted by deodorants and ice cream sales, but warned "tough markets" are to continue in 2017.
The Rotterdam-based group clocked 5.5 billion euros ($5.9 billion) in net profit last year, while turnover came in at 52.7 billion euros, down 1.0 percent year-on-year.
Unilever said it "delivered another good all-round performance, despite severe economic disruptions, particularly in India and Brazil, two of our largest markets."
Brazil's economic crisis and the withdrawal of India's 1,000 (13.6 euros) and 500 rupee notes from circulation "presented significant additional headwinds," group chief executive Paul Polman said in a statement.
Despite setbacks Unilever grew its personal care arm by 0.5 percent, including in the deodorant sector, driven by the continued success of dry sprays in North America and the Rexona Antibacterial spray, which now sells in more than 50 countries.
Ice cream sales again performed well, where Unilever's Magnum Double range and Ben&Jerry's clocked good sales as well as its best-selling US-based gelato maker Talenti.
Core earnings increased to 1.88 euros per share for 2016.
Unilever, which employs 173,000 people around the world, owns more than 400 brands including Dove, Knorr soups, Lipton, Magnum and Marmite.
Comments
Comments are closed for this article.