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Unilever 3rd-quarter turnover flat due to exchange rates

Associated Press Associated Press 13/10/2016

THE HAGUE, Netherlands — Anglo-Dutch consumer products giant Unilever's turnover was flat at 13.4 billion euros ($14.7 billion) in the third quarter as exchange rate fluctuations hit sales despite a long, warm summer boosting ice cream sales in Europe.

Unilever, whose wide-ranging portfolio of brands includes Ben & Jerry's and Magnum ice creams, Dove and Hellman's, said Thursday that underlying sales growth in the quarter totaled 3.2 percent as volume edged down 0.4 percent but prices rose 3.6 percent compared to the same period last year.

The company, which was in the news Thursday over a price war it is having with U.K. retailer Tesco, did not announce profits in its trading update.

Chief Executive Officer Paul Polman says Unilever "continues to demonstrate its resilience by growing competitively and consistently in tough market conditions."

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