Business & Finance

Unilever annual profit drops 15% on flat sales

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LONDON: British consumer goods giant Unilever on Thursday said its profit after tax dropped 15 percent last year to 6.5 billion euros ($7 billion) as sales flattened.

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Chief executive Hein Schumacher said “competitiveness remains disappointing and overall performance needs to improve” at the group whose products include Magnum ice cream, Cif surface cleaner and Dove soap.