Unilever Q1 Turnover Up, Lifts Dividend; Says On Track For Sales Growth In FY17

(RTTNews) - Anglo-Dutch consumer goods company Unilever Plc ( UN, ULVR.L, UL) reported Thursday that its first-quarter turnover increased 6.1% from last year to 13.3 billion euros, including a positive currency impact of 2.4%.

Underlying sales growth was 2.9% with price up 3.0%, while volume was down 0.1%. Excluding spreads, underlying sales growth was 3.4%.

The company noted that as part of its strategic review, it announced on April 6 its intention to either sell or demerge spreads business.

Emerging markets underlying sales growth was 6.1% with price up 5.3% and volume up 0.8%.

Underlying sales of Home Care and Personal Care increased 3.4 percent to 7.8 billion euros. Foods and Refreshment underlying sales increased 2.2 percent to 5.5 billion euros.

The company noted that sales in Foods, impacted by the later Easter this year, were flat. Further, the company said its Boards have determined to pay a quarterly interim dividend for first quarter of 0.3585 euros per Unilever N.V. ordinary share, and 0.3021 pounds per Unilever PLC ordinary share. The quarterly dividend has been raised by 12%.

Paul Polman, Chief Executive Officer, said, "The first quarter shows growth once more ahead of our markets. … The actions we are taking keep us on track for another year of underlying sales growth ahead of our markets, in the 3 - 5% range. We also expect an improvement in underlying operating margin this year of at least 80 basis points and strong cash flow."