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Unilever’s Bright Q2

Unilever delivered robust earnings of $1.09 per share in the second quarter of 2011, moving up by 10% from the year-ago period. It also surpassed the Zacks Consensus Estimate of 36 cents by 11.11%. Profits went up based on improved underlying profit and disposals, with lower interest and pension costs also contributed to the higher earnings.

The current Zacks Consensus Estimate is $2.29 for the full quarter of 2011. The earnings estimate for the next year is pegged at $2.52.

Consolidated Revenue and Margins

Unilever’s quarterly net sales increased 7.1% to $17,007.8 million compared with the prior-year period. The upswing came on the back of successful introduction of Magnum in the United States and Indonesia. The brand is popular in about 40 markets worldwide. Dove Men+Care, Axe/Lynx, Pond’s Men, Knorr Stockpots and Domestos are the brands that fuelled growth in the quarter.

Personal Care went up 5.8% from the year ago period to $5,290.7 million mainly driven by strong demand for deodorants, skin cleansing and hair care. While the relaunch ofDove Hand & Body lotion was quite promising for Europe, Dove Damage Therapy and Dove Nourishing Oil Care coupled with the impact of the relaunch of Clear in Asia boosted the Hair Care segment.

Other Financial Updates

The company exited the year with cash and short-term cash investments of $1,966 million, down from $2,397 million. Inventories increased to $4,633 million from $4,398 million in the year ago period.

Adapted from Yahoo Finance

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