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Business FX Blog

Adam Solomon is a specialist in business foreign exchange issues at foreign exchange brokers TORfx.

The idea of this column is to assist businesses in saving money on making or receiving payments in foreign currency. It is developed with all companies in mind from public companies with large and complex operations, to smaller companies and individuals.

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Home Economic Fundamentals UK Economic Unilever figures good, but investors drop shares

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Unilever figures good, but investors drop shares PDF Print E-mail
UK Economic
Written by Will Peters   
Thursday, 05 November 2009 12:01
Unilever figures came out above market expectations today, but the shares are 3.06% down on the FTSE 100.
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Unilever (LON:ULVR) shares are down 3.06% on the FTSE 100 by mid day.

The falls could have opened an opportunity for investors to buy the shares at a discounted price say stock brokers Hargreaves Lansdown.

Unilever PLC said Thursday that third-quarter net profit fell 36% but underlying sales beat expectations as volumes grew strongly for the second consecutive quarter and margins edged higher.

Unilever continues to inch closer to emulating the performance of rival household goods group Reckitt Benckiser. Sales have again surprised on the upside, whilst the profit margin has also improved.

Like Reckitt, an emphasis on innovation and sustained advertising spend is driving performance, with cost saving initiatives providing additional momentum.

Keith Bowman, Equity Analyst at Hargreaves Lansdown Stockbrokers commented:

"Volatile commodity prices and foreign exchange markets provide downside risks going forward, whilst the improving trend in consumer confidence seen over recent months remains vital.

"A rumoured move for Cadbury continues to be a factor in investors’ current thinking. Any decision by management does in itself send a signal, with a call to stay on the sidelines suggesting confidence in continuing organic growth, while a takeover bid might suggest a greater dependency on cost cutting momentum. All in all, despite a challenging outlook statement, Unilever is today vindicating a 35pc plus upturn in its share price over the last 6 months. Market consensus opinion currently denotes a cautious buy.”
Last Updated ( Thursday, 05 November 2009 12:03 )