Hindustan Unilever announces results

Hindustan Unilever has announced that it experienced net profit growths of over five per cent in the final quarter of 2009.

The company recorded net profit growths of 5.4 per cent, which was spurred on by a strong performance in the personal products, food and water categories.

Within the food category, growth of nine per cent was experienced in the beverage, processed foods and ice cream segments.

Harish Manwani, chairman of Hindustan Unilever, said: "Volume growth accelerated in the quarter, backed by quality innovations, increased brand support and continued focus on market execution. We are committed to strengthening our market leadership."

The company's beverage brands, which include tea and coffee, grew at a rate of eight per cent. In the processed foods segment Kissan, Knorr and Annapurna, which cover the sauces, soups and bakery categories all also grew well. Knorr currently enjoys a 70 per cent share of the Indian soup market.

Volume led growth was also experienced within Unilever's ice cream offerings and ten new Swirl parlours were opened in India in 2009. Unilever is currently the world's largest ice cream manufacturer.

Posted by Jason Webster.