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色天使论坛丁香五月啪啪激情综合中国水务7月18日耗资37.17万港元回购5万股

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不應該在這麼猛的太陽底下,在戶外躺這麼長時間的,這樣曬了以後,我每 次都頭暈的??我真覺得,我剛才頭腦不怎麼清醒,我??不過??不 過,??這些事您全忘了吧??是不是?您對我的粗暴無禮不再生氣了 吧?” 打中了我那忐忑不安的良心。毫無疑問,我一定已經泄露了我內心的秘密。 為了分散她的注意力,我設法把這番爭論變成一次輕松逗樂的談話,因為我 早已知道在這種時刻她容易激怒的脾氣非常危險。色天使论坛 這個想法每次又使我鼓起勇氣來??每次我在您的塔上或者您的房間里找到 您,我總對我自己說,我來看您,免得您成天一個人孤零零地坐在那兒打發 漫長的時光,這可是好事啊。難道您真的不能理解這點嗎?”丁香五月啪啪 令。我想必剛才沒有集中思想。我又想起了那件事情,完全心謊意亂了。我 一個人是罪魁禍首。我一個人應該承擔全部責任。我的大腿輕輕一夾,我胯 下的閹馬就踏著快步從同伴們身邊經過,向上校跑去。同伴們感到難堪,都 轉過臉去望著別處。上校在離開隊伍大約三十米的地方一動不動地等著。按 照規定,我應隔一定距離在他面前停下。這當兒,連最最輕微的馬蹄聲和金 屬聲都听不見。出現了那種最後的、最無聲息的寂靜,真正像死一樣的沉寂, 就像行刑時,恰好在發出“開火”口令之前的那一瞬間。每一個人,就是排 在那後面最末尾的一個小俄羅斯農家子弟也知道,什麼事情正等待我。 令。我想必剛才沒有集中思想。我又想起了那件事情,完全心謊意亂了。我 一個人是罪魁禍首。我一個人應該承擔全部責任。我的大腿輕輕一夾,我胯 下的閹馬就踏著快步從同伴們身邊經過,向上校跑去。同伴們感到難堪,都 轉過臉去望著別處。上校在離開隊伍大約三十米的地方一動不動地等著。按 照規定,我應隔一定距離在他面前停下。這當兒,連最最輕微的馬蹄聲和金 屬聲都听不見。出現了那種最後的、最無聲息的寂靜,真正像死一樣的沉寂, 就像行刑時,恰好在發出“開火”口令之前的那一瞬間。每一個人,就是排 在那後面最末尾的一個小俄羅斯農家子弟也知道,什麼事情正等待我。激情综合 說來奇怪,恰好在這天夜里那本書落到我的手里。一般說來,我這人不 好念書。在我營房里的那只搖搖晃晃的書架上只擺了那麼七八本軍事書籍, 諸如《服役規程》和《陸軍等級一覽》,對于我們這號人,這兩本書便是知 識大全了。旁邊還擱著那麼二十多本古典名著,從軍官學校畢業,我每到一 個駐防地都帶著,可從來也沒有打開來讀過。我之所以老帶著這些書,也許 只是為了使我不得不住的那些四壁空空、冷漠陌生的陋室看上去像擁有那麼 一點私人家當。書架上還散亂地堆放著幾本印刷和裝幀都很粗劣的書,書頁 只裁開一半?,這些書都是很奇怪地跑到我這里來的。原來有時候有個身材矮 小的駝背小販會跑到我們咖啡館來。他長著一雙眼淚汪汪的眼楮,眼神優傷 得出奇。他總用一種叫人難以招架的殷勤勁兜售信紙啦,鉛筆啦,以及一些 價錢便宜、不登大雅之堂的書籍,大多是那些所謂的香艷文學,就像《卡薩 諾伐艷遇記》、《十日談》、《歌星回憶錄》或者《軍營風流韻事集》。他 希望這些書在騎兵的圈子里能夠暢銷。出于同情心——老是出于同情心!說 不定也是為了不讓他帶著優傷的神氣一個勁地老纏著我,我接二連三地從他 手里買了三四本這種印刷粗劣的言情小冊子,然後隨隨便便地往書架上一 擱。

Today, Unilever announced its results for the first half of 2019, which show underlying sales growth of 3.3%, led by our emerging market business which grew 6.2%.

  • Underlying sales grew 3.3% with volume 1.2% and price 2.1%
  • Emerging markets underlying sales growth 6.2% with volume 2.5% and price 3.6%
  • Turnover decreased 0.9% driven by the sale of our spreads business, partially offset by a 1.1% currency benefit
  • Underlying operating margin increased 50bps with 30bps from gross margin
  • Operating margin increased by 40bps
  • Underlying earnings per share increased 5.0%, with constant EPS up 3.0%

Commenting on the results, CEO Alan Jope says: “We have delivered consistent growth within our guided range for 2019, led by our emerging markets. Accelerating growth remains our top priority and we continue to evolve our portfolio and seek out fast growth channel and geographical opportunities, as well as address those performance hotspots where growth is falling short of our aspirations.

“For the full year, we continue to expect underlying sales growth to be in the lower half of our multi-year 3-5% range, an improvement in underlying operating margin that keeps us on track for the 2020 target and another year of strong free cash flow. Our sustainable business model and portfolio of purpose-led brands are key to delivering superior long-term financial performance.”

Our markets

Growth in our markets was mixed. Market growth in Europe and North America was held back by the impact of weather on ice cream sales. In the emerging markets we continued to see good momentum particularly in China and South East Asia. India saw strong market growth, though it moderated, as expected. Argentina remains hyperinflationary and high levels of pricing continue to weigh on consumer demand.

Unilever overall performance

Underlying sales grew 3.3% with 1.2% from volume and 2.1% from price. Emerging markets grew 6.2%, led by Asia/AMET/RUB, which saw broad-based geographic growth, whilst developed markets were weaker.

In the second quarter, we estimate the 2018 truckers’ strike in Brazil increased USG by 100bps. Second quarter growth was suppressed by around 50bps due to weak ice cream performance; a result of poorer weather, particularly in Europe following two years of very strong summers. 80bps of Argentina price growth in the quarter was excluded from USG due to hyperinflationary status.

Turnover in the first half decreased 0.9% driven by the sale of the spreads business, partially offset by a currency benefit of 1.1%.

Underlying operating margin improved by 50bps. Gross margin was up 30bps, helped by efficiencies from our 5S programme. Overheads had an adverse impact on underlying operating margin of 10bps. Our change programmes have helped to address stranded costs following the disposal of spreads and we continue to invest in the ongoing digital transformation of our business. Brand and marketing investment decreased compared to the prior year, as we continued to deliver zero-based budgeting savings ahead of target, with an increased focus on digital spend. More than two thirds of savings have been reinvested, largely behind innovations and new brand launches.

Beauty & Personal Care

Underlying sales in our Beauty & Personal Care division grew 3.3%.

Deodorants performed well, supported by our Rexona Clinical and Dove Zero aluminium ranges, alongside the extension of Love, Beauty & Planet. New formats continued to drive sales in skin cleansing, including the incremental launch of Dove bath bombs as well as Dove foaming handwash. Good performance in skin care was supported by on-trend innovations including Pond’s InstaBright Glow cream. Hair care saw only modest growth for the first half, with a challenging second quarter particularly in the US. Oral care returned to growth in the second quarter, helped by innovations such as Closeup natural whitening toothpaste and Signal White Now. Our prestige brands, including Dermalogica, Hourglass and REN, saw double digit growth overall, and we announced the acquisitions of Garancia and Tatcha, which are not yet included in USG.

Underlying operating margin in Beauty & Personal Care increased by 100bps, driven by efficiency programmes in brand and marketing investment.

Home Care

Underlying sales in our Home Care division grew 7.4%.

Fabric solutions performed strongly, benefiting from premiumisation and the execution of our strategy to move consumers into products with additional consumer benefits, including Omo Perfect Wash in Brazil. China saw good performance from the relaunch of Omo while in India Surf excel continued to grow double digit. Seventh Generation continues to be rolled out in Europe and North Asia, building on the naturals trend. Home and hygiene grew well, supported by double digit growth from Sunlight, and we launched innovations such as the Cif Cleaner Choices range with natural cleaning ingredients. In Indonesia we used our Home Care brands to run the mosque cleaning programme during Ramadan, an example of purpose-led growth. Good growth in fabric sensations was supported by the launch of a redesigned Comfort core range, focusing on clothes care, as well as a natural variants range. The life essentials category was flat.

Underlying operating margin in Home Care increased by 120bps, with improvements in gross margin, as well as efficiencies in brand and marketing investment and overheads.

Foods & Refreshment

Underlying sales in our Food & Refreshment division grew 1.3%.

In tea, sales declined with volumes impacted by weak consumer demand in developed markets. This was partially offset by black tea in emerging markets and our fruit, herbal and green tea ranges, including Pukka’s premium herbal offering. Sales in dressings were flat with volumes slightly down as competitive intensity remained high. Despite poorer weather in the second quarter compared to the previous two years, ice cream grew slightly over the half. We saw good ice cream performance in Asia/AMET/RUB and from innovations such as Magnum White Chocolate and Cookies. Savoury performance was helped by the launch of new snack pot variants meeting the trend towards convenience. The introduction of Hellmann’s Burger and Spicy Dipping sauces continue to broaden the brand beyond core mayonnaise, and Sir Kensington’s performed well.

Underlying operating margin in Foods & Refreshment decreased by 40bps, as a result of an adverse impact on overheads related to the disposal of our spreads business.

Unilever PLC

Unilever House
100 Victoria Embankment
London EC4Y 0DY
United Kingdom


Press-Office.London@Unilever.com

Unilever NV

Weena 455
3013AL Rotterdam

www.unilever.nl

+31 (0) 10 217 4000
mediarelations.rotterdam@Unilever.com

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Where relevant, these actions are subject to the appropriate consultations and approvals.

This announcement may contain forward-looking statements, including 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as 'will', 'aim', 'expects', 'anticipates', 'intends', 'looks', 'believes', 'vision', or the negative of these terms and other similar expressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Unilever Group (the 'Group'). They are not historical facts, nor are they guarantees of future performance.

Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Among other risks and uncertainties, the material or principal factors which could cause actual results to differ materially are: Unilever's global brands not meeting consumer preferences; Unilever's ability to innovate and remain competitive; Unilever's investment choices in its portfolio management; inability to find sustainable solutions to support long-term growth; the effect of climate change on Unilever's business; customer relationships; the recruitment and retention of talented employees; disruptions in our supply chain; the cost of raw materials and commodities; the production of safe and high quality products; secure and reliable IT infrastructure; successful execution of acquisitions, divestitures and business transformation projects; economic and political risks and natural disasters; financial risks; failure to meet high and ethical standards; and managing regulatory, tax and legal matters. These forward-looking statements speak only as of the date of this announcement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Further details of potential risks and uncertainties affecting the Group are described in the Group's filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including in the Annual Report on Form 20-F 2018 and the Unilever Annual Report and Accounts 2018.

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