Unilever's Q2 sales growth misses forecasts

Unilever Plc reported a strong set of numbers in the April-June (Q2) quarter. During this period the company reported a sales growth 5.0 percent with volume growth of 3 percent and price growth of 2 percent.

Unilever CEO Paul Polman says: "This set of results clearly demonstrates that the transformation of Unilever to a sustainable growth company is fully on track. The strong Home Care and Personal Care performance is particularly pleasing given increased competitive pressure."

However, the market was expecting the firm to report underlying sales growth of 5.5 percent, according to a Reuters poll.

"Growth is slowing in emerging markets, as macro-economic headwinds influence consumer behaviour. Developed markets remain sluggish with little sign of any recovery in North America or Europe," the company said on Thursday.

Meanwhile, the Anglo-Dutch consumer goods giant increased its stake in the Indian arm Hindustan Unilever (HUL) to 67.28 per cent, following an open offer which commenced on June 21 and closed on July 04.

The company fell short of its target as it had planned to hike the stake in HUL to 75 per cent through the open offer from the earlier stake of 52.48 per cent.