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Profit Warning Damages Unilever Share Price

ByFX Solutions
AuthorJames Chen
Published 10/02/2013, 12:21 AM
Updated 01/01/2017, 02:20 AM

Unilever, (ULVR)'s share price has fallen today (October 1st), on the back of the firm issuing a profit warning to shareholders.

The FTSE 100 was also hit by the surprise news that the company which owns brands such as Persil, PG Tips and Dove may see profit growth slow.

Paul Polman, Unilever's chief executive, explained that the firm is expecting to see underlying sales growth of between three and five per cent in the third quarter of the year.

"We continue to grow ahead of our markets and expect underlying sales growth to improve in quarter four," he said.

A slowdown in emerging markets – where around 60 per cent of Unilever's business is done – has been blamed by the company for the profit warning.

Investors were not reassured by Mr Polman's comments and the share price of the firm was 3.69 per cent down at 15:13 BST today.

Stocks in the company are currently selling for 91 points lower than at the start of the session.

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