Consumer products giant Unilever today said that summer trading had been below expectations after poor weather cooled demand for ice cream and iced tea.
The Anglo-Dutch group, whose products include Magnum ice cream, Lipton Ice Tea, Hellman's mayonnaise and Dove soap, said the disappointing weather was among a series of factors contributing to its "unacceptable" performance.
Unilever said it would take action to strengthen its brands after saying it expected margins to be lower in the third quarter of its financial year when compared with last year.
It is the latest in a series of disappointing updates for Unilever, which has been battling to reinvigorate the business with a major growth strategy.
The company has blamed weak consumer confidence for sluggish sales of its leading brands.
Today, Unilever said trading in July and August was below expectations for a number of reasons, including very poor weather in northern Europe, which led to "substantially lower" sales of ice cream and ready-to-drink tea.
Monday September 20, 2004
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