Unilever Q2 Sales Report Better Than Estimated

Unilever Q2 Sales Report Better Than Estimated

Published July 23rd, 2020 - 12:00 GMT

































Highlights





The Anglo-Dutch maker of Dove soaps and Knorr soups said on Thursday underlying sales fell 0.3% in the three months ended June 30, compared with analysts' mean forecast for a 4.3% drop.















Second-quarter sales at Unilever fell much less than expected as a strong performance in North America helped to offset the hit from coronavirus lockdowns.

The Anglo-Dutch maker of Dove soaps and Knorr soups said on Thursday underlying sales fell 0.3% in the three months ended June 30, compared with analysts' mean forecast for a 4.3% drop.

That was still the first decline in quarterly sales since the third quarter of 2004, according to Jefferies analysts, Reuters reported.

"We have demonstrated the resilience of the business,“ Chief Executive Alan Jope said in a statement.

Unilever also said that after exploring options for its 3 billion euro ($3.5 billion) a year tea business, it had decided to keep its operations in India and Indonesia and partnership interests in ready-to-drink tea joint ventures.

The rest of the tea business will be separated into an independent entity,