Consumer goods giant Unilever said it had a good start to the year and was on track to hit its full year targets.
The firm, which is behind brands as diverse as TreSemme, PG Tips and Brylcream, saw turnover increase by 11.9% to €12.1bn in the first quarter of the year.
It reported underlying sales growth of 8.4% with emerging markets leading the way, up 11.9%, and now 56% of the company's business.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Developed markets were up 4.2% and the firm hiked its quarterly dividend 8% to €0.243.
The firm said the figures benefitted from the extra leap year day and an easy prior year comparator in Europe, in part due to Easter falling earlier than in 2011
Chief Executive Paul Polman said Unilever had grown ahead of its markets with all categories delivering growth.
"Emerging markets, now 56% of the business, have again delivered strong growth and whilst the good performance in developed markets was against a weak prior year comparator, our performance is pleasing given struggling economies, continued fragile consumer confidence and competitor activity," he said.
However, Polman sounded a note of caution, saying the external macro-economic environment remained difficult and it was being hit by higher input costs.
-
Who is the richest person in the world?The top five richest people in the world have a combined net worth of $825 billion. Who takes the crown for the richest person in the world?
-
Top 10 stocks with highest growth over past decade - from Nvidia, Microsoft to Netflix, which companies made you the most money?
We reveal the 10 global companies with the biggest returns since 2013. One firm has posted an astonishing 9,870% return, meaning a £1,000 investment would now be worth almost £82,000.
