Unilever's (ULVR) underlying sales growth in the first half beat expectations, but at 2.9 per cent remained muted by past standards. Paul Polman, chief executive of the Anglo-Dutch giant behind consumer goods brands such as Dove soap, said he would be the "first to admit underlying sales growth...is still below the levels Unilever is capable of".
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Turnover reached just shy of €27bn (£19bn) thanks to 1.1 per cent growth in volumes and a 1.7 per cent increase in prices, combined with fortuitous currency moves. Management says consumer demand remains "weak", with stronger growth in emerging markets offset by "deflationary trends" elsewhere.