Unilever highlights underlying growth in first quarter of 2016

Unilever has announced its financial results for the first quarter of the year, during which it delivered a turnover total of 12.5 billion euros (9.91 billion pounds).

This represented a two percent year-on-year decline in nominal terms, attributable largely to a negative currency impact of 7.1 percent. Its underlying sales growth came to 4.7 percent, with emerging markets up 8.3 percent.

During the three months, Unilever was able to gain market share across all of its main categories, despite difficult trading conditions and fragile consumer demand in regions such as North America and Europe.

As such, the firm remains committed to key strategic targets established last year, including net revenue management, zero-based budgeting and ongoing organisational transformation.

Unilever's chief executive officer Paul Polman said: "This will position us well to deliver another year of volume-driven growth ahead of our markets, steady improvement in core operating margin and strong cash flow. These underpin sustained long-term value creation for our shareholders."

The company recently appointed Dr Marijn Dekkers, the current chief executive off Bayer, as its new chairman.