AsiaBizz: Unilever Sales Plunge In West European Decline
Unilever, the second largest consumer goods maker on earth, has stated that it Â has missed its sales target for the second quarter, as sales in the European market fell considerably. The Western European sales were worse than the African, Asian and American sales figures.
The London Rotterdam based consumer goods company had an increase of only 3.6% compared to the last years, as the company had predicted of a 4% straight growth. Shares at the Amsterdam trading fell as low as 4%. The revenue earned from West Europe by Unilever is almost one third on their Balance Sheets, and the second quarter fell face forward by 2.2%.
The Western European economy has been buried after the European debt crisis, and as a matter of fact the sales figures there could not have increased anyways. Market in Greece was substantially low. The sales in the West were weaker than the company had expected so this is reflecting a competitive environment in fast moving consumer goods industry.
Read more atÂ Bloomberg