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Unilever profit misses consensus by 16.5% in H1

Unilever PLC said its first-half normalized net income amounted to 75 euro cents per share, compared with the S&P Capital IQ consensus estimate of 90 cents per share.

EPS rose 20.2% year over year from 63 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €2.15 billion, a gain of 17.9% from €1.83 billion in the prior-year period.

Total revenue rose 12.0% on an annual basis to €26.99 billion from €24.10 billion, and total operating expenses grew 11.4% year over year to €23.15 billion from €20.78 billion.

Reported net income fell 12.0% on an annual basis to €2.48 billion, or 87 cents per share, from €2.82 billion, or 97 cents per share.