Unilever warns on profits
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Food and consumer goods giant Unilever has shocked investors by reining in expectations for full-year profit growth to under five percent due to stiff competitor pressure and poor weather.
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MANCHESTER United yesterday reported lower annual profits of Â£27.9m as it warned future results would be affected by a drop in media revenues.
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Business & money: Budget airline warns that profits could fall by up to 50% next year on the back of high oil prices
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Unilever shares have fallen 5.7% after the Anglo-Dutch consumer goods giant issued a surprise profits warning. Unilever said sales of ice cream and its tea drinks were &quot;substantially lower&quot; in July and August due to very poor weather in northern Europe.
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J Sainsbury, the deeply troubled supermarket group, yesterday gave its third profits warning since March, and some analysts fear that a fourth could arrive as early as next Tuesday.
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Associated British Foods warns that prices of brands that include Kingsmill and Allinson will have to rise again.
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Unilever, the consumer goods group, revealed yesterday that its sales dropped 4% in the past three months, a performance it called &quot;unacceptably weak&quot;.
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Sainsburyâs showed further evidence it was suffering at the hands of price-cutting rivals today as it warned that first half profits would slump by nearly two-thirds.
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The two food giants said Wednesday that soaring commodity prices would hurt the companiesâ profits this year.
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Unilever will this Thursday admit that its $2.6bn ( 1.4bn) acquisition of Slim-Fast in 2000 was a failure by writing off nearly half the value of the diet foods business.
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A profit warning from consumer products giant Unilever and concern that oil prices, now topping $46 a barrel, will hurt company earnings kept European shares in negative ground Monday.
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Consumer goods giant Unilever Plc/NV   on Thursday reported underlying sales below expectations in a tough fourth quarter and gave a lackluster outlook for 2007, sending its shares tumbling.
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Food and consumer goods giant Unilever has cut its annual profit growth forecast by more than a half, blaming wet weather for poor ice cream
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J Sainsbury bowed to pressure from the City watchdog yesterday and admitted that interim profits were likely to plunge - the third time it has issued a profits warning in the past seven months.
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HONG KONG (CBS.MW) -- British pest control and office services group Rentokil warned investors Tuesday to expect weaker results next year and said 2004 profit would be hurt by the soft US dollar and one-off costs.
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LONDON (CBS.MW) - Anglo-Dutch foods giant Unilever on Monday lowered its outlook for earnings growth for the year, pledging to raise advertising and promotion spending to bolster flagging sales of some of its brands.
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Unilever PLC reported higher earnings for the third quarter Wednesday but said its business suffered from weak demand and poor weather, with sales of Ben & Jerry's ice cream and Lipton Tea falling.