Unilever reports encouraging underlying growth for first half of 2016

Unilever has announced its financial results for the first six months of 2016, with a half-year turnover total of 26.3 billion euros (21.93 billion pounds).

On a current exchange rate basis, this represented a 2.6 percent year-on-year decline, but underlying sales growth was up by 4.7 percent, ahead of the average market pace. Volumes, meanwhile, rose by 2.2 percent.

Consumer demand remained weak during the period, with volumes slowing further in many of the company's key markets, yet despite this Unilever broad-based underlying growth across the personal care, foods, home care and refreshment categories.

Challenging economic conditions are expected to continue to prevail for the remainder of the year, which is why the company's focus remains on cost-effectiveness and efficiency drives.

Paul Polman, chief executive officer of Unilever, said: "Our priorities continue to be volume-driven growth ahead of our markets, steady improvement in core operating margin and strong cash flow."

The firm also remains committed to its sustainability improvement efforts, forming a partnership with International Flavors and Fragrances earlier this month to enhance the livelihoods of smallholder vetiver farmers in Haiti.