Global consumer goods company Unilever has released its Q3 results, showing growth led by its emerging market business and home care division. The two areas grew by 5.1% and 5.4% respectively.
In the beauty and personal care division, Unilever reported underlying sales grew by 2.8%, with 2.1% from volume and 0.7% from price. Deodorants performed well, with continued success from the roll-out of its Rexona Clinical range, based on Unilever’s new patented antiperspirant technology. The firm’s innovations in skincare also helped growth in the beauty and personal care division. Its recent innovations, including Pond’s Glow Up cream, a hybrid product in skincare and makeup, saw good performance.
Overall, in terms of markets, Unilever reported that growth in Europe and North America remained low, however, south-east Asian markets continued to grow well. In India, growth “softened further” and China “slowed a little”. The firm reported that in Latin America, the economic environment “remains difficult”.
“We have maintained momentum in the quarter, with a good balance between volume and price,” said CEO Alan Jope. “Emerging markets and home care have been the key growth drivers. We will step-up competitive top-line performance through innovation and portfolio evolution to serve the faster-growing geographies and channels.
“We are committed to delivering superior long-term financial performance and balanced, compound growth of the top and bottom line through our sustainable business model. We are taking action to remain relevant to the consumer of the future, such as setting stretching goals on plastic use, which we recently announced.
“For the full year, we continue to expect underlying sales growth to be in the lower half of our multi-year 3-5% range, an improvement in underlying operating margin that keeps us on track for the 2020 target and another year of strong free cash flow.”