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.
blog comments powered by Disqus
  • What's Next for the UK?

    Sarah Boumphrey, Euromonitor International||June 24, 2016
    Euromonitor weighs in on the implications for consumer product companies.

  • Henkel Grabs the Sun

    Henkel Grabs the Sun

    Ian Bell, Euromonitor International||June 24, 2016
    Euromonitor's Ian Bell on the impact the purchase will have on the US detergent industry.

  • To The Max

    To The Max

    Melissa Meisel, Associate Editor||June 20, 2016
    Velvet 59 is on the rise at locations like Ricky’s NYC.

  • Take Notice

    Take Notice

    Melissa Meisel , Associate Editor||June 1, 2016
    Packaging trends revolve around trendy artwork, eco-conscious materials—and portability is a plus too!

  • Virtual Reality

    Virtual Reality

    Christine Esposito, Associate Editor||June 1, 2016
    An update on nature-identical ingredients for cosmetics and personal care products.

  • Shiseido Advances in the US

    Shiseido Advances in the US

    Tom Branna, Editorial Director||June 1, 2016
    New facility in Windsor, NJ demonstrates its dedication to the US and other markets outside Japan.