Anglo-Dutch consumer products giant Unilever has reported 2001 net profits just ahead of expectations with figures up 66 per cent at €1.858 billion.
It also repeated its forecast for low double-digit earnings per share growth in 2002.
Unilever said its widely watched underlying net profit (before exceptional items and amortisation of goodwill and intangibles) rose 12 per cent to €3.602 billion, at the high end of market expectations.
Analysts polled by Reutershad expected Unilever to report a full-year 2001 net profit at constant exchange rates of €1.7 billion versus €1.12 billion in 2000.
Unilever's 2001 net profit before goodwill and exceptionals was forecast between €3.5 and €3.6 billion with consensus at €3.6 billion.
The company has cut its brand portfolio to below 800 from 1,600 since February 2000 when it began a five-year cost-cutting programme. It will cut brands to 400 by 2004.