LONDON — Unilever said Thursday third-quarter profits shot up 37 percent year-on-year to reach 1.07 billion euros, or $1.47 billion at average exchange for the three-month period.
That performance was bolstered by a comparison with the year-earlier period, which was impacted by a 300 million euro, or $382.5 million, provision for compensation payments relating to the 2005 conversion of preference shares.
For the first nine months of 2007, profits spiked 17 percent at 3.27 billion euros, or $4.4 billion at average exchange.
"Material costs continue to increase sharply, but we have been able to more than counter this over the first nine months through savings programs and pricing actions," the company said in a statement.
In both the quarter and the nine-month period sales were up 1 percent at current exchange and 4 percent at constant exchange, weighing in at 10.24 billion euros, or $14.08 billion, and 30.3 billion euros, or $40.74 billion, respectively.
"Underlying sales growth of 4.5 percent in the quarter and 5.3 percent in the first nine months was partly offset by the effects of disposals and exchange rates," Unilever said in the statement.
"I feel comfortable about our longer-term goals — to deliver an operating margin in excess of 15 percent by 2010 and organic growth in the 3 percent to 5 percent range along the way," said Jim Lawrence, the company's chief financial officer, during a teleconference Thursday.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia