Unilever reports 63 percent slump in fourth quarter results

Anglo-Dutch food group Unilever said on February 07 its net profit for the three months to December plunged 63 percent from the comparable figure in 2006 to 787 million euros (1.14 billion dollars).
The fourth-quarter outcome dented the 2007 results, with full-year net profit down 18 percent at 4.14 billion euros. Sales in 2007 inched up 1.0 percent to 40.19 billion euros.
The results were in line with analyst forecasts. Chief executive Patrick Cescau said 2007 marked the third year running of improved sales and profit margins, vindicating the company's focus on high growth and return segments of the business. Cescau said Unilever expects a further gain of 3.0 to 5.0 percent in 2008 sales.