Anglo-Dutch food consumer product group Unilever said on Monday that it is on target to meet second-quarter earnings estimates despite the drag on overall revenue from poor ice cream sales in Europe.
Howard Green, the head of investor relations for Unilever, told analysts that the company has seen second-quarter earnings grow 20 per cent. The company is targeting low double-digit earnings growth for the full year. Underlying second-quarter sales grew about 3 per cent to 4 per cent.
Green also said Unilever's stated 5 per cent to 6 per cent sales growth target probably will not be reached until 2004."We're only halfway through the product-growth programme," he said. Product growth right now is about 2 per cent. "We have nothing but confidence in hitting the targets," Green continued.