Food giant Unilever posts 5% drop in 2015 profit

The Hague

DUTCH food and cosmetics giant Unilever on Tuesday posted a 5 per cent fall in 2015 profit from the previous 12 months, saying it had been a "challenging year" amid the economic slowdown.

Turnover was up 10 per cent to US$53.3 billion, thanks to increased volumes and a favourable exchange rate, but net profit attributable to shareholders was down to US$4.91 billion, compared with US$5.2 billion in 2014.