Unilever shares tumbled after the company surprised markets with a warning that it will miss sales targets for the year
) will miss its underlying sales target this year, the consumer goods giant warned on Tuesday, sending shares in the maker of Dove soap and Ben & Jerry’s ice cream into their steepest fall in six months.
“Our full-year underlying sales growth is expected to be in the lower half of the multi-year range,” added Jope, who took on the top job earlier this year.Unilever’s forecast implies it suffered its lowest fourth-quarter sales growth in more than a decade, RBC analysts said. Growth in South Asia - India, Bangladesh, Pakistan, Sri Lanka and Nepal - slowed to 5% this year, Jope said on a media call, marking a “significant deceleration” from last year’s 10% rise.
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