Business Services Industry
Battered Unilever issues profit warning.
Knight Ridder/Tribune Business News, September, 2004
By Ian Lyall, Daily Mail, London Knight Ridder/Tribune Business News
Sep. 21--Unilever chairman Niall FitzGerald's eight years in charge at the Anglo-Dutch consumer goods giant ended on a sour note as he was forced to sound the profits alarm.
The company, which makes Surf detergent and Hellman's mayonnaise, blamed the tough competitive environment for its woes.
It said it has been hit by Europe's disappointing summer. Sales of ice cream melted while chiller cabinets full of its Lipton ice tea failed to empty during a damp July and August.
Unilever was not the only casualty as US giant Colgate warned its second-half earnings would undershoot Wall Street estimates.
Both have pledged to increase the pressure on rivals by...
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