Unilever Q4 net profit up 15%

Consumer good giant Unilever registered a 15% growth in net profit,powered by emerging markets.

Consumer good giant Unilever registered a 15 per cent growth in net profit to 1.04 billion euros (USD 14.95 billion) in the October-December quarter of 2010 driven by strong performance in emerging markets like India.

The company’s turnover increased by 12 per cent from year-earlier to 10.81 billion euros in the fourth quarter ended December 31,2010.

“We are pleased with another year of good results… We delivered strong volume growth,particularly in emerging markets,which continued to be the engine of growth. We gained volume share in all regions driven by stronger innovations,significant increases in marketing investment and the extension of our brands into new territories,” the company said.

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Asia Pacific delivered double-digit volume growth in the year with a strong fourth quarter led by robust growth in India,Vietnam,the Philippines,Pakistan and China.

“In India we delivered consistent double digit volume growth and we are encouraged by our progress in this highly competitive market,” Unilever said.

The group’s underlying volumes in the quarter rose 5.1 per cent,up from five per cent growth posted in the same period last year.

For the full year,Unilever reported 44.3 billion of turnover,an increase of 11 per cent,while net profit grew 26 per cent to 4.6 billion euros.

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The manufacturers of dove said that 2010 results were strong despite intense competition,weak consumer confidence in many markets and the impact of rising commodities costs in the second half.