Unilever's 2020 Net Profit Falls, Misses Market Expectations
04 February 2021 - 6:48PM
Dow Jones News
By Sabela Ojea
Unilever PLC reported Thursday a fall in net profit for 2020,
missing market expectations for the year, but said it has begun
2021 in good shape and is confident it can adapt to a rapidly
changing environment.
The multisector retailer, which owns consumer brands such as Ben
& Jerry's ice cream and Dove soap, posted a net profit of 5.58
billion euros ($7.61 billion) compared with EUR5.63 billion for
2019.
Net profit was expected to rise to EUR7.01 billion, according to
the company's compilation of consensus.
Turnover fell to EUR50.72 billion from EUR51.98 billion for the
year-earlier period, mainly driven by a 5.4% hit linked to currency
related items, it said.
The board has declared a fourth-quarter dividend of EUR0.4268 a
share.
"We will deliver long term-value creation by continuing to
evolve our portfolio and driving earnings growth, a strong cash
flow and a growing dividend," the company said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 04, 2021 02:33 ET (07:33 GMT)
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