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The Recession Lingers for Unilever

Company execs expect the tough times to continue in 2010.

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By: TOM BRANNA

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Unilever reported a 24% fall in fourth quarter net profit Thursday and predicted tough competition and consumer spending constraints in the current year. “We expect continued pressure on consumer spending power and heightened levels of competitive activity in 2010,” said CEO Paul Polman. The company said net earnings in the final three months of 2009 came to $1.27 billion as lower prices offset increased volumes. Sales were down 4.8% from a year earlier to $13.5 billion, falling...

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