LONDON – Third-quarter profits at Unilever, owner of the Dove, Vaseline and Lux brands, rose 20.5 percent to 1.35 billion euros, or $1.76 billion, on the back of growth across all regions and emerging markets in particular.
Sales in the three months to September 30 grew 13.2 percent to 11.55 billion euros, or $15 billion. Dollar figures are calculated at average exchange rates for the three-month period.
The company said in a statement Thursday that growth was achieved despite the “combined headwinds of slow economic growth, weak consumer confidence in many markets and higher commodity costs. Whilst market growth continues to be sluggish in the developed economies, the emerging markets continue to grow strongly albeit more slowly than the levels seen earlier in the year.”
Unilever chief executive Paul Polman added in the statement that while emerging markets were the big driver behind sales, “overall volume growth remained strong on the back of stronger innovations and the extension of our brands into new markets.”