Southeast Asian markets continued to grow well, while growth in India slowed further and China slowed slightly. "
Consumer goods giant Unilever posted weaker-than-expected sales in the third quarter, citing lower demand in India and a slowdown in China, two of the biggest emerging markets.
Emerging markets, which account for 60% of Unilever's business, have been a key focus for CEO Alan Job since taking over in January.
Jope focused investment in countries such as Vietnam and Bangladesh, where a growing population and an emerging middle class are driving demand for household products.
Knorr soup maker, Dove soap and Ben & Jerry ice cream have risen more than 11% this year, nearly double the increase in the FTSE 100 index. FTSE>, driven by a weaker and stronger market performance such as Indonesia and the Philippines.
However, two of its largest emerging markets are showing signs of slowing growth, with trade wars impacting China's domestic consumption and irregular monsoons slowing rural spending in India.
"Southeast Asian markets continued to grow well, while growth in India slowed further and China slowed slightly," the company said on Thursday.
Unilever announced its core sales growth of 2.9% this quarter, below an average forecast of 3%, according to a consensus provided by the company.
Turnover was 13.3 billion euros ($ 14.7 billion), more than the 13.24 billion euros forecast by analysts.
However, the company committed to its year-round target of core sales growth in the bottom half of the range ranging from 3% to 5% and achieving a 20% operating margin in 2020.
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