After fending off the bid in February, chief executive Paul Polman said the company will deliver on promises to increase shareholder returns via buybacks and lift profitability goals. Unilever has grappled with lower consumer prices in Europe and a slowdown in emerging markets such as China and India that account Growth in underlying sales in the first quarter for about 60 percent of sales. India and China are turning a corner and a market contraction in Brazil is moderating, Pitkethly said.
The company plans to divest its spreads unit, which includes the Flora brand, in a process that could fetch an enterprise value of around
6.6 billion (R94.07bn), according to a survey of analysts who cover the stock.
The company did not provide any immediate update on the sales process.
Unilever said it’s on track for full-year underlying sales growth in a range of 3 percent to 5 percent.
Underlying acquisitions, and currency Bloomberg sales exclude divestments fluctuations. –