After rejecting Kraft Heinz bid, Unilever’s profits increase ‘substantially’
CE Paul Polman says the consumer product company’s transformation into a more resilient, competitive and profitable business is accelerating
The Hague — Food and consumer product company Unilever said on Thursday profits soared in the first half of 2017, raking in €3.3bn after the Anglo-Dutch firm spurned a takeover bid by US rival Kraft Heinz. The 22.4% increase in the first six months compared with the same period in 2016 showed "a substantial step-up in profitability despite the persisting volatile global trading environment," CE Paul Polman said. "The transformation of Unilever into a more resilient, more competitive and more profitable business is accelerating," he added in a statement. Sales for the first half of the year rose 5.5% to €27.7bn, with turnover growing particularly in Asia amid rising prices and in parts of the Americas. Currency fluctuations also helped profits, even though sales "remained weak" in Europe. The Rotterdam-based Unilever, which employs about 169,000 people around the world, owns more than 400 household brands, including Dove, Knorr soups, Lipton, Magnum and Marmite. Since rejecting the K...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.