Consumer goods giant Unilever saw sales fall slightly in the first half of the year, but said it expects its full year results to remain unaffected.
Sales dipped in the first half, with pre-tax profits falling €3.2 billion, down from €3.3 billion for the same period in 2017. Underlying sales rose 1.9 percent however, with emerging markets sales up 4.4 percent.
The group said last month figures were likely to be negatively affected by truckers strikes in Brazil, which led to €150 million of lost sales in just 11 days. Brazil is one of Unilever’s largest markets, contributing 6.5 percent to its overall revenues.
In a statement released on Thursday, the group said that whilst the problems in Brazil “presented a significant headwind in the second quarter”, it expects the effect “to partially reverse in the second half of the year”.
The group added that it continued to evolve its portfolio in both Europe and North America, increasing the production of organic, natural, vegan, health and wellness products in response to consumer demand.
Unilever remained positive going forward, saying its full year expectations remain unchanged.
“Our expectation for the full year is unchanged,” CEO Paul Polman said.
“We expect underlying sales growth in the 3-5 per cent range, an improvement in underlying operating margin and strong cash flow. We remain on track for our 2020 goals.”
Shares in Unilever (LON:ULVR) are currently down 0.18 percent at 4,195.00 (0930GMT).
