Unilever calls nine tea brands its own - PG Tips is one of them

Unilever is the world's second largest consumer goods business after Philip Morris's subsidiary Kraft Foods, with worldwide sales of over $48bn in 1997.

The company has production facilities in 90 countries, and employs around 270,000 people.

Among Unilever's many products and brands are Persil detergent, Vaseline skin care, Calvin Klein and Elizabeth Arden perfumes, Lynx deodorant, Flora margarine, Boursin cheese, Magnum ice cream and Bird's Eye frozen food.

Home care products were particularly successful during the third quarter, while ice cream sales in Europe were hit by poor weather. The company said that the "prevailing economic uncertainties had no significant impact on (Unilever's) businesses in Europe and North America."

Slump in Asia

Calvin Klein gives his name, Unilever the product

The economic slump in Asia and Latin America, however, "weakened consumer demand" and growth figures were lower than expected. Results from Unilever's investments in China were "remaining weak".

Overall Unilever's net profits surged by 35.1% to $1.6bn during the third quarter of the financial year, up from $863m in the same period of 1997.

Profits were boosted by the sale of Plant Breeding International Cambridge in July. Unilever sold the company to the US bio-technology company Monsanto for $525m.

Excluding this extra revenue, profit growth was reduced to a mere 5.8% - at the lower end of expectations by market analysts.

Exceptional revenues are distorting the picture of the company performance for the last nine months as well. Here profits are down by more than 50%, mainly due to the fact that last year's profits were boosted by the sale of assets in the chemical sector.