Unilever profit jumps 33%

Written by Bloomberg | Updated: May 1 2010, 04:00am hrs
Unilever, the worlds second- largest food and detergent company, said first-quarter profit increased 33% as lower prices spurred shoppers to buy more Dove soap and Lipton tea. Net income jumped to 973 million euros ($1.29 billion), from 731 million euros in the year-earlier period, the London-and Rotterdam-based company said in a statement on Thursday. That beat the average analyst estimate of 909 million euros in a Bloomberg survey. Sales rose 6.7% to 10.1 billion euros. CEO Paul Polman has cut prices to restore volume growth.