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Unilever's personal care products division is its largest after acquisitions in the U.S. and Russia, and also the fastest-growing, with sales up 10.4 percent. Foods, the next largest category, grew the least: 3.2 percent, entirely due to price increases Polman said were necessary to keep up with commodity costs. Unilever said Dove products now sell more than euro3 billion annually, while Magnum ice cream is close to
euro1 billion. The world's developing countries proved the most important for the company, accounting for more than 50 percent of sales. Unilever discussed Europe, its most profitable market, in some depth. It said overall first half growth of 1.1 percent "is a creditable performance, given continued sluggish economies and fragile consumer confidence." But margins were down 0.8 percent "mainly due to the impact of higher commodity costs." Unilever also gave European sales figures for the second quarter, which showed worsening conditions. Sales were down 2.2 percent, with volumes down 2.7 percent compensated only in part by 0.5 percent in price hikes.
[Associated
Press;
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