Investors have developed a liking for consumer companies such as Unilever (LSE: ULVR). That’s because branded products tend to have lots of loyal customers. This makes for reasonably predictable profits and respectable returns on assets.
And with Unilever there’s supposed to be another attraction – emerging markets. The company gets more than half of its sales from emerging economies and that is supposed to grow profits faster.
Trouble is, sales in emerging markets are going up, but not as fast as the City expected. True, they increased by 6.3% in the last quarter, but that’s [...]