Unilever hails progress in first half of 2011

Unilever has reported good progress with its efforts to transform its business during the first half of 2011.

The consumer products company's turnover for the six months rose by 4.1 percent year over year to 22.8 billion (20.1 billion pounds), with underlying sales and volume growth of 5.7 percent and 2.2 percent respectively.

Improved performance was noted across all of the company's major regions, which chief executive officer Paul Polman attributed to its efforts to expand its brands into new areas.

During the last few months, Unilever has implemented initiatives such as the sale of its Sanex personal care business unit to Colgate-Palmolive in Europe.

It is also enacting a reorganisation of its management structure, including the broadening of its category organisation into four units and the appointment of Harish Manwani as chief operating officer.

"We are making encouraging progress in the transformation of Unilever to a sustainable growth company," said Mr Polman.