Unilever looks at selling Bertolli olive oil business

Tag : Olive Soap

The strong trading figures came as Unilever chief executive PatrickCescau added his voice to concerns from the UK's leading businessesover the changing tax regime.
"It's clear that the UK is losing a bit of its advantage as a verytax efficient country for multi-nationals," Mr Cescau said. "The UKhad the reputation of being a very good climate for businesses andinvestors. It would be very damaging to lose that image."
Unilever's share price rose 90p to £17.52 after the companysaid it expected to exceed its target of annual sales growth of 3pcto 5pc. Mr Cescau said operating margins had risen after Unileverpushed through a 4.8pc rise in prices to counter the affects of a4.2pc increase in commodity costs.
Jim Lawrence, Unilever's finance director, confirmed the companywas looking at a variety of options for Bertolli, which includes asale of the business.
Unilever would look to retain rights to Bertolli with any sale, MrLawrence said, as the company also sells a range of pasta saucesand snacks under the brand name. Read