Unilever and Nestlé on April 18 each posted higher-than-expected sales growth in the first three months of the year and confirmed their full-year guidance. Both companies said they were sticking to their 20 percent operating margin targets for 2020.
Unilever, which had a market value of $165 billion as of April 17, said underlying sales, stripping out acquisitions, disposals and currency moves, rose 3.1 percent in the first quarter compared to a 2.8 percent analyst forecast provided by the company. Sales growth was helped by strength in emerging markets.
Nestlé, with a market capitalisation of $289 billion, reported organic growth of 3.4 percent compared to 2.8 percent expected by analysts in an Infront Data poll. Unilever shares rose 3.3 percent to 45.22 pounds at 0922 GMT on April 18. Nestlé shares rose less than 1 percent to 95.84 Swiss francs.
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