Financial Highlights
• Underlying sales growth of 5.3% in the first nine months. Third quarter underlying sales growth of 4.5% (5.2% adjusted for systems change in the US which pulled sales forward into the second quarter).
• Operating margin of 13.7% in the quarter and in the first nine months, with an underlying improvement of 0.2 percentage points and 0.3 percentage points respectively.
• Earnings per share from continuing operations up 20% in the first nine months, with an increased contribution from joint ventures and associates, lower financing costs, and a lower tax rate.
Operational Highlights
• Growth momentum sustained across regions and categories, broadly in line with markets.
• Further sharp rise in commodity costs offset by increased pricing and strong contribution from savings programmes.
• Good progress in implementation of accelerated restructuring plans and portfolio development. Restructuring charges of €234 million charged to operating profit in the third quarter.
Interim dividend
• Interim dividend of €0.25 per NV share and 17.00p per PLC share.