Unilever drops as developed market weakness tempers Q3 sales beat

Unilever

Yesterday 08:32

** Shares of consumer goods major Unilever ULVR.L fall 3% to 4,744p; on course for their steepest intraday fall since May 5
** Third-quarter underlying sales growth of 5.2% beats company-compiled consensus forecast of 4.8%, driven by strong demand and higher prices
** Performance in developed markets was weaker, reflecting tougher comparisons with a year earlier and softer results in the Foods business
** JPM analysts note that the sales beat could lift consensus forecasts modestly, but softer developed-market trends may dampen sentiment
** Nine of 17 analysts rate the stock "buy" or better, six "hold" and two "sell" or worse; median PT is 5,600p - LSEG-compiled data
** ULVR down ~2.5% YTD

 (Reporting by Amna Mariyam in Bengaluru)
 ((amna.mariyam@thomsonreuters.com; +91 8448625620))