By LAZARUS IBEABUCHI

Unilever Global, the parent company of Unilever Nigeria Plc, said its third quarter, 2012 turnover increased by 10.3 per cent to N2.71 trillion (€13.4 billion).

The company said this shows that transformation to a sustainable growth company is well on track and is being embedded deeply in the business.

In a statement, Unilever said despite continued high levels of competitive intensity, depressed economies and increasing global imbalances and uncertainty, it saw solid growth with a good balance between volume and price, adding that  emerging markets businesses delivered another quarter of double-digit growth, taking year to date growth to 11.7%, while developed markets declined in the quarter but are up 0.8% year to date.

Commenting on the results, CEO Paul Polman said: “The Compass strategy and the Unilever Sustainable Living Plan are driving aligned actions across the business. We are seeing a steady improvement in the quality of our innovation, meeting the needs of consumers wherever they are. The organisational structure that we announced last year is already paying off and we are seeing benefits in terms of our agility and discipline in operational execution.”

Taking a cursory look at the performance of its various products, the company said its overallFoods growth was slightly negative. “Knorr  jelly bouillon continues to do well in savoury, with the recent extension to markets such as Australia and Russia and the introduction of new variants such as Herbs & Spices in Germany and Borsch Soup in Russia. Knorr baking bags have gained share in most key countries. During the third quarter we launched our first soup made from 100% sustainable tomatoes in France.