Unilever: shares dip after mixed results
(CercleFinance.com) - Unilever's stock fell on Thursday after the consumer goods giant delivered mixed results for the first half of the year.
The Anglo-Dutch company reported underlying sales that are up 3.3% over the first six months of 2019, with volume growth of 1.2% and a price effect of 2.1%, led by emerging markets (+6.2%).
Even so, this performance was slightly below the consensus.
The group's gross margin rose by 30 basis points, helped by cost savings.
For the full year, Unilever continues to expect underlying sales growth to be in the lower half of its multi-year range of 3%-5%.
Unilever shares dipped 1.9% in early morning trading, underperforming the STOXX Europe 600 Optimised Food & Beverage index (+0.7%).
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Anglo-Dutch company reported underlying sales that are up 3.3% over the first six months of 2019, with volume growth of 1.2% and a price effect of 2.1%, led by emerging markets (+6.2%).
Even so, this performance was slightly below the consensus.
The group's gross margin rose by 30 basis points, helped by cost savings.
For the full year, Unilever continues to expect underlying sales growth to be in the lower half of its multi-year range of 3%-5%.
Unilever shares dipped 1.9% in early morning trading, underperforming the STOXX Europe 600 Optimised Food & Beverage index (+0.7%).
Copyright (c) 2019 CercleFinance.com. All rights reserved.