Unilever Reports Profit Gains Despite Revenue Decline In 1H Of 2016

Unilever PLC said profit increased 2 percent to €2.51 billion, or $2.77 billion, in the first half of 2016, although revenue declined 2.6 percent to €26.3 billion due to currency volatility. Underlying sales grew 4.7 percent, with volume rising 2.2 percent. At constant exchange rates, sales increased 5.4 percent and 2.6 percent at current exchange rates. According to the company, emerging markets sales grew 8.0 percent, with volume rising 2.9 percent. Core operating margin was at 15 percent, pushed by an increase of 80bps in gross margin.