Unilever will say that it has seen weakening in the market growth of many emerging countries in the third quarter and now expects underlying sales growth of 3 to 3.5% in the quarter. The emerging market slow-down has accelerated as a result of significant currency weakening. Developed markets remain flat to down.
“We continue to grow ahead of our markets and expect underlying sales growth to improve in quarter four," said Paul Polman, CEO, Unilever. "For 2013 we are still on course to deliver against our priorities of profitable volume growth ahead of our markets, steady and sustainable core operating margin improvement and strong cash flow."
Polman's comments spooked investors, however. Procter & Gamble's share price fell more than 1% to $76.23, slicing through its 200-day moving average, Kimberly-Clark dropped 0.5% to $94.32 and Colgate Palmolive fell 3 cents to $59.90.