Consumer goods giant Unilever has reported a sharp fall in full year profit for 2015, which it said was “a challenging year”.
The firm, which makes a vast array of consumer products including Ben & Jerry’s ice-cream, Lipton tea and Dove soap, said pre-tax profit fell 8% to €7.2bn (£5.5bn; $7.8bn) at constant currency rates.
Underlying sales rose 4.1%.
The firm also warned it expected “tougher market conditions” in 2016.
“Despite a challenging year with slower global economic growth, intensifying geopolitical instability, and high currency and commodity volatility we have again grown ahead of our markets,” said Unilever chief executive Paul Polman.
Unilever said underlying sales growth in emerging markets, where it makes more than half its sales, rose to 7.1% from 5.7% in 2014.
Despite the rise, the firm said demand continued to be weak, particularly for countries dependent on oil exports, while market growth in developed markets was “negligible”.
Unilever has been cutting jobs and trimming costs, and Mr Polman said the changes it had made meant the firm was a “a more resilient business”, but said it would continue to cut costs.
“We are preparing ourselves for tougher market conditions and high volatility in 2016, as world events in recent weeks have highlighted. Therefore it is vital that we drive agility and cost discipline across our business,” he added.
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