Unilever on target

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Related tags: English-language films, Brand, Unilever

Ango-Dutch consumer products giant Unilever expects to save £200m a
year from the sale of 1,200 global brands well ahead of its initial
five-year deadline,...

Ango-Dutch consumer products giant Unilever expects to save £200m a year from the sale of 1,200 global brands well ahead of its initial five-year deadline, Associated Press reports. The company has already sold, closed or merged about 700 brands. Its first-quarter profits slumped 38 per cent to £382m thanks to high interest costs after it bought America's Bestfoods for £17bn. When chief executive Niall Fitzgerald of Unilever​ unveiled plans for the brand shrinkage this time last year, Fitzgerald told investors the programme would probably take five years. Unilever, which is to close more than 100 plants and to cut 33,000 jobs, says sales from its core brands now account for 80 per cent of its turnover, which was £7.7bn in the first three months of this year. Source:Associated Press

Related topics: Market Trends

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