Feb 4, 2021

Unilever restores growth targets

The maker of Dove soap and Domestos bleach restored its previous target for annual underlying growth of 3 per cent to 5 per cent, having dropped the guidance last year. Underlying revenue rose 3.5 per cent to €12.1bn in the fourth quarter to December, matching consensus forecasts, with food and home care sales both growing strongly. The management-backed consortium bidding to take Kaz Minerals private confirmed raising its offer to 780p per share from 640p, which values the Kazakh copper miner at £3.7bn. The new offer from Oleg Novachuk's Nova Resources is a premium of around 52 per cent to the stock's undisturbed price. Caterer Compass reported a 33.7 per cent slump in group organic revenue for the three months to December as lockdown measures closed offices, schools and leisure facilities. Underlying margins for its fiscal first-quarter improved at 2.7 per cent, versus previous guidance of 2.5 per cent.

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