One of the world's top ranked makers of household, beauty and wellness products, Unilever PLC., today posted its third quarter report which beat the estimates of analysts all over. For the third quarter, despite posting a drop in sales, reported an overall satisfactory performance. For the second consecutive quarter, the company's volumes grew strongly.
For the July-September period for the current year, Unilever posted a drop in sales of 2% to 10.2 Billion Euros. The drop has come after a 1% rise in the previous quarter. Also, net profit fell to 1.05 Billion Euros from last year's 1.64 Billion Euros.
Unilever's Chief Financial Officer Jim Lawrence, while asserting that the volumes will continue to grow and sales will soon pick up, said, "There's nothing slowing our underlying momentum. We are on track towards our objective of restoring volume growth while protecting margins and cash flow for the year as a whole."
As the economy has started to improve, Unilever is now looking at posting stronger and better results in the fourth quarter as well as the coming year.
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