Unilever Beats Q2 Sales Forecast, Ice Cream Spin-Off on Track

Unilever reported second-quarter underlying sales growth of 3.8%, topping the 3.6% consensus, as robust demand for personal-care staples such as Dove soap and a rebound in its ice-cream unit offset weakness in parts of Asia. Revenue gains were led by North America and Europe, where higher volumes and selective price increases lifted performance. The Magnum Ice Cream Company, slated for a mid-November demerger, expanded 7.1% in the quarter and remains on schedule for a standalone listing in the Netherlands, the company said. Free cash flow halved to €1.1 billion in the first half, reflecting supply-chain realignment and separation costs, while underlying operating profit came in at €5.8 billion, marginally ahead of expectations. Chief Executive Officer Fernando Fernandez reiterated full-year guidance and said investment will be “disproportionately” directed toward the United States and India as the consumer-goods group sharpens its focus on higher-growth beauty and wellbeing lines.