Unilever shares have jumped on the London Stock Exchange this morning (January 23rd), after the company announced that it has exceeded over €50 billion (£42 billion) in annual turnover for the very first time.
According to the Anglo-Dutch food producer, the emerging markets facilitated this boost, with pre-tax profits jumping by seven per cent to €6.7 billion in 2012 from the previous year, defying rising energy and food prices.
Unilever's fourth-quarter sales increased by 7.8 per cent, while for the whole 12-month period the firm saw its strongest sales growth in Asia and Africa, where there was a 10.6 per cent rise. In the US, sales climbed by 7.9 per cent.
Chief executive Paul Polman said: "Emerging markets again contributed double-digit growth helping us exceed €50 billion in turnover, an important milestone in our journey to double the size of Unilever from €40 to 80 billion."
At 10:55 GMT, Unilever shares jumped by three per cent to 2526.00p per unit.
Learn all about CFD trading strategies and major individual shares at City Index.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.