Breaking News

Unilever Cuts Brands, Increases Net Profits

November 15, 2005

Anglo-Dutch company Unilever slashed its brand portfolio to concentrate on such top names as Knorr soup and Lipton tea. Following the restructuring, Unilever posted a 29% increase in net profits for 2003 on a basis of constant exchange rates.
Unilever executives said the Euro rose strongly against most currencies last year, but exchange rate variations helped its debt situation.
Fourth-quarter profits soared by 199%, according to Unilever executives. The figures included the effects of asset sales last year as part of a restructuring plan to increase growth by focusing on such brands as Magnum, Dove, Knorr and Lipton.
Unilever executives said leading brands accounted for 93% of sales by its 540 branded products, and that by the end of 2004 the percentage will rise to 95%, in-line with targets.
Unilever’s net annual profit at constant exchange rates was $3.5 billion, up from $2.6 billion. In the fourth quarter, net profits rose to $996.3 million, up from $332.9 million in 2002.
Between 2005-2010, Unilever ex-pects to generate more than $36 billion, executives said.
“Continued strong cash flow and particularly favorable currency movements have allowed us to reduce net debt ahead of schedule,” said Niall Fitzgerald, company co-chairman.
  • Skin of Color Society Connects Experts

    Skin of Color Society Connects Experts

    Melissa Meisel, Associate Editor||January 16, 2017
    Dermatologists from across the nation share information and ideas.

  • Erasa

    Erasa's New Evangelist(a)

    January 9, 2017
    Impressed by the performance of its hero SKU, supermodel Linda Evangelista joins the company in a hand's on role.

  • Discourse on Disclosure

    Discourse on Disclosure

    Tom Branna, Editorial Director||January 6, 2017
    Transparency impacts the cleaning industry.

  • Hitting the Right Notes

    Hitting the Right Notes

    January 6, 2017
    Agilex Fragrances is the leader in the middle market fragrance category.

  • The Smell of Clean in 2017

    The Smell of Clean in 2017

    January 6, 2017
    Changing consumer lifestyles and demographics are impacting the scents found in the household cleaning category.

  • On the Edge

    On the Edge

    January 6, 2017
    Expanding beauty brands to watch in 2017