Consumer goods giant Unilever reported a smaller than expected drop in quarterly sales on Thursday, helped by strong demand for food and hygiene products.
The Anglo-Dutch maker of Dove soaps to Knorr soups reported a 0.3% drop in underlying sales for the second quarter.An employee arranges Unilever's margarine brands Becel, Blue Band, Bona and Zeeuws Meisje in a supermarket.reported a smaller than expected drop in quarterly sales on Thursday, helped by strong demand for food and hygiene products.
The Anglo-Dutch maker of Dove soaps to Knorr soups reported a 0.3% drop in underlying sales for the second quarter, much better than the analysts' average forecast for a 4.3% fall in a company poll. "Our hand hygiene business or surface cleaning or actually in-home eating — so, basic products that people buy in supermarkets — those are growing 15, 20, 25%," Alain Jope, CEO of Unilever, told CNBC's Julianna Tatelbaum Tuesday.
"Meanwhile, the parts of our business that serve, for instance, restaurants, are very slow and that same pattern is true geographically," he also said, adding that the "supply chain has held up magnificently" during the pandemic. The company also said that after exploring options for its 3 billion euro a year tea business, it had decided to keep its operations in India and Indonesia and partnership interests in the ready-to-drink tea joint ventures.Unilever announced in June plans to become one single legal entity in the U.K.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biogen lifts full-year profit forecast as Tecfidera boosts quarterBiogen Inc raised its 2020 earnings forecast on Wednesday after better-than-expected sales of its multiple sclerosis treatment Tecfidera helped the drugmaker beat second-quarter profit estimates.
Read more »
Roche maintains 2020 outlook as second-quarter sales tumble on COVID-19 hitSwiss drugmaker Roche stuck to its full-year outlook even as second-quarter sales tumbled nearly 10%, hurt by a rising Swiss franc and patients who shied away from hospital visits as the COVID-19 pandemic disrupted healthcare worldwide.
Read more »
Tropical depression forms in Atlantic Ocean; System in Gulf also bears watchingForecasters Tuesday continued to monitor two separate weather systems for ongoing tropical development.
Read more »
Microsoft, Nike, Unilever team up to combat global carbon emissionsMicrosoft, Nike, Starbucks, Unilever and five other industry heavyweights are teaming up in a plan called ‘Transform to Net Zero’ to help businesses globally achieve zero carbon emissions
Read more »
Chipotle digital sales triple in the second quarter, but can't offset dining room closuresChipotle reported quarterly adjusted earnings that were down 90% as dining room closures hit business and dented operating margins. But many customers moved to order online, leading Chipotle’s digital sales to more than triple during the second quarter.
Read more »
Dow Rises 150 Points Amid Renewed U.S.-China Tensions, Pfizer Vaccine DealThe Dow rose 150 points today amid renewed U.S.-China tensions and the positive vaccine news from Pfizer by skleb1234
Read more »