Unilever growth flat while ice cream down

Unilever announced its results for the first quarter of 2020, which show flat underlying sales with developed markets growing 2.8%, while emerging markets declined by 1.8%. Turnover increased by 0.2% including a positive impact of 0.6% from acquisitions, net of disposals and a negative impact of 0.4% from currency.

The Anglo-Dutch giant manufactures a range of consumer products, including Magnum ice creams. The €7 billion ice cream business amounts to 17% of revenues for the firm, but it fears that travel restrictions and the downturn in tourism will affect the brands globally going forward.

It has provided €500 million in cash flow relief for its small and medium sized suppliers and retail customers. Also, Unilever is also maintaining its quarterly dividend, which will be €0.4104 per share, it said.