Unilever reports strong underlying growth for 2016 business year

Unilever has reported its financial results for 2016, during which it delivered an annual turnover total of 52.7 billion euros (45.49 billion pounds).

This represented an underlying sales growth rate of 3.7 percent, even though the headline turnover figure – which is calculated at current exchange rates – was down by one percent compared to 2015.

Unilever's good all-round performance came despite a challenging business environment marked by severe economic disruptions, particularly in India and Brazil, two of the company's largest markets.

The recent acquisitions of Dollar Shave Club, Blueair, Seventh Generation and Living Proof will help to strengthen the company's prospects for 2017, as will the progress of its Connected 4 Growth business transformation programme.

With tough market conditions likely to continue in the first half of 2017, Unilever is expecting a slow start to the year, with growth improving as time progresses.

Paul Polman, chief executive officer of Unilever, said: "This further demonstrates the progress we have made in transforming Unilever into a more resilient business. We have again grown ahead of our markets, driven by strong innovations that support our category strategies."

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