Unilever reports profit growth, strong emerging markets
Anglo-Dutch food and cosmetics giant Unilever reported Thursday a 26-percent rise in net profit for 2010 and a better than expected fourth quarter result, mainly due to higher emerging market sales.
Net profit for the year was 4.24 billon euros ($5.85 billion), the company said, while the result for the fourth quarter rose 15 percent from a year earlier to 955 million euros.
The fourth quarter result was higher than a figure of 918 million euros predicted by analysts for Dow Jones Newswires.
"2010 results were strong despite intense competition, weak consumer confidence in many markets and the impact of rising commodities costs in the second half," Unilever said in a statement.
"Whilst markets showed little or no growth in the developed economies, emerging market growth remained healthy.
Unilever's shares rose 1.47 percent to 22.43 euros shortly after the opening of the Amsterdam stock exchange.
© 2011 AFP