Unilever records double-digit growth in 2010

FMCG giant Unilever has reported revenue growth of 11.1% to €44.3bn for 2010, with underlying sales growth of 4.1%.

Unilever: reports double-digit growth in 2010
Unilever: reports double-digit growth in 2010

Much of the revenue growth was down to favourable exchanges rates, but helped the company to a 25% rise in full year pre-tax profit, from €4.9bn in 2009 to €6.1bn in 2010.

Sales growth was achieved by a 5.8% increase in volumes at 1.6% lower prices.

Fourth quarter underlying sales growth reached 5.1%, with prices unchanged.

The company's operating margin increased in the final quarter, which "reflected the benefits of the cost saving programmes and lower advertising and promotions [spend]".

Paul Polman, chief executive, Unilever, said: "We are pleased with another year of good results in which we delivered against all our key priorities and further progressed the transformation of Unilever.

"We gained volume share in all regions driven by stronger innovations, significant increases in marketing investment and the extension of our brands into new territories.

"The Unilever of today is more agile and confident, now fully fit to compete. We remain focused on serving our consumers and customers and building the long term health of our brands."

In November, Unilever brought in agency Ogilvy & Mather Worldwide to handle its corporate brand business, following a split from Fallon London.

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