Unilever plc (LON:ULVR) Shares Are Up After Results Announcement

Unilever plc (LON:ULVR) Shares Are Up After Results Announcement

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Unilever plc (LON:ULVR) or Unilever plc (ADR) (NYSE:UL) shares are trading higher in both London and New York Stock Exchanges after the company announced its first quarter results.

Unilever disclosed that its turnover grew 6.1 percent to Euro 13.3 billion. This is helped by a favorably currency impact of 2.4 percent.  Its underlying sales advanced 2.9 percent driven by price hike of 3.0 percent though volume saw ten basis points drop. USG was 3.4 percent that excluded spreads.

The company’s emerging markets underlying sales also witnessed 6.1 percent uptick in the first quarter fueled by price hike of 5.3 percent and volume growth of 0.8 percent. The company lifted its quarterly dividend by 12 percent to Euro 0.3585 a share.

Commenting on the results, Unilever CEO, Paul Polman, said, “The first quarter shows growth once more ahead of our markets. This reflects our continued investment in both innovations and brand support, and reconfirms the strength of our long term sustainable compounding growth model. The change programme ‘Connected for Growth’ which we started implementing in the autumn last year is starting to bear fruit and is making Unilever more agile and closer to the local markets, unlocking both further growth and margin.”

He expressed the confidence that the actions taken by it is on track for another year of underlying sales growth ahead of our markets, in the 3 – 5% range. The company expects an improvement in underlying operating margin of minimum 80 basis points in the current year and strong cash flow.

At time of writing this, Unilever traded up 1.55 percent in premarket in NYSE while it was up 1.38 percent in London Stock Exchange.