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Consumer goods giant Unilever (LON:ULVR) said underlying sales growth slowed more than expected in the second quarter due to the impact of a truckers’ strike in Brazil, but profit margins improved and the firm remained confident of hitting full year targets.
Excluding the spreads business, for which the disposal was completed at the start of July, the consumer goods conglomerate grew underlying sales 1.9% in the three months to 30 June, which was slower than the 2.3% expected by analysts.
“Our expectation for the full year is unchanged,” commented CEO Paul Polman. “We expect underlying sales growth in the 3-5% range, an improvement in underlying operating margin and strong cash flow. We remain on track for our 2020 goals.”
Shares in Unilever rose 22p to 4,225p (as at 10:15 BST).