Unilever FY17 Profit Rises; Underlying Sales, Excl. Spreads, Up 3.5%

(RTTNews) - Unilever PLC (UN, ULVR.L, UL) reported profit before tax of 8.15 billion euros for full year 2017 compared to 7.47 billion euros, prior year. Profit to shareholders' equity increased to 6.05 billion euros or 2.15 euros per share from 5.18 billion euros or 1.82 euros per share. Underlying EPS was 2.24 euros compared to 2.03 euros.

Fiscal year turnover increased to 53.71 billion euros from 52.71 billion euros, last year. Underlying sales growth was 3.1% for the period. Turnover, excluding spreads, was 50.7 billion euros, up 2.2% from previous year. Excluding spreads, underlying sales growth was 3.5%.

The Group said its savings programmes are delivering faster than expected, with savings of more than 2 billion euros in 2017. This puts the Group well on track towards its savings target of 6 billion euros, and a targeted underlying operating margin of 20% by 2020.