Consumer product company Unilever recorded a seven percent sales increase in the Middle East and Africa for 2002. Regional turnover increased by nine percent including the increase in the company’s holding in the Robertson's business. Operating margin increased by 30 basis points to 11.3 percent after an increase in investment behind the leading brands.
Growth was broad based across categories with the major contributions from marketing activities behind Knorr, Lipton, Lux, Dove and laundry brands. In Turkey, the weak economy has led to consumer downtrading and market contraction and sales have declined as a result. Elsewhere in the region Unilever strengthened its market position, particularly in Israel, Saudi Arabia and the Gulf States, Tunisia, Algeria and Morocco.
With annual sales of approximately $47 billion in 2002, Unilever produces and markets a wide range of foods and home and personal care products. The company operates in 88 countries around the globe and employs approximately 258,000 people. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
