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Unilever to meet targets
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March 26, 2001: 10:56 a.m. ET
Anglo-Dutch consumer goods maker is comfortable with earnings outlook
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LONDON (CNN) - Unilever, the world's largest maker of food and soap products, said on Monday it's comfortable with earnings growth forecasts for 2001.
The Anglo-Dutch consumer good company also said it expects continued sales momentum in its leading brands, which include Dove soap, Signal toothpaste, and Hellman's mayonnaise.
Unilever's statement follows last week's decision by U.S.-based rival Procter & Gamble (PG: Research, Estimates) to cut 9,600 jobs to spur its lagging growth rate.
 "We remain comfortable with our outlook for the year of low double-digit earnings per share growth, before exceptional items and goodwill amortisation," Unilever said in a statement.
In the first quarter of 2001, Unilever expects sales, excluding acquisitions and disposals, to increase by 4 percent.
Total sales would grow by 19 percent in the quarter, the company said.
In the past year, Unilver has bought U.S.-based companies diet drinks maker Slim-Fast and gourmet ice cream maker Ben & Jerry's, and diversified food maker Bestfoods. It agreed to sell Bestfoods Baking to Canada's George Weston for $1.8 billion last month.
It also sold its Oxo food flavoring brand.
In North America, sales are expected to move ahead in mid-single digits sales are expected to rise by 27 percent, 25 percentage points of the rise coming from the net acquisition and disposal effect.
Unilever (ULVR) shares were up 2.1 percent in London on Monday afternoon at 491 pence after the sales update was announced. 
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