Unilever Reports 43% Drop in Profit in Q1

Company will focus on innovation

British-Dutch cosmetics and food group Unilever reported on May 7 a 43% drop in first-quarter net profit on a 12-month basis, and a one-third drop in the operating result.

Net profit fell to 803 million euros (US$1.07 billion) from 1.407 billion euros, and operating profit fell to 1.234 billion euros.

Overall sales by the group, which owns many leading brands including Knorr soups, Dove soap and Omo washing powder, fell by 1% to 9.5 billion euros.

"First-quarter results were solid given todays trading environment," chief executive Paul Polman said.

He said that the group would focus on innovation and on supporting its brands."

Copyright Agence France-Presse, 2009

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