Unilever, the world's biggest food and soap maker, said first-quarter profit advanced 84 percent, boosted by cost cutting and lower interest payments.
Net income rose to 450 million euros (US$404 million), or US$0.43 a share, from 244 million euros, or US$0.23, a year earlier, said Richard van der Eijk, a Unilever spokesman. Sales fell 1 percent to 12.2 billion euros.
The maker of Dove soap and Lipton tea is in its third year of a reorganization intended to bring faster growth. While it plans to save 1 billion euros this year by slashing jobs and brands, global purchasing and integrating acquisitions, some analysts say sales aren't meeting expectations.
"On balance it's much better than expected," said Mariska Zonneveld, an analyst at Fortis Bank with a "reduce" rating.
"Growth may significantly fade off during the year, otherwise they should have upgraded their target." The Dutch shares rose as much as 55 cents to 67.5 euros, the UK shares added 1.6 percent to ?5.87.
The company repeated it expects "low double-digit" growth in earnings per share before one-time items and goodwill for the full year.
Excluding the effect of currency fluctuations, sales fell 1 percent to 12.3 billion euros and net income almost doubled to 463 million euros. That beat the 264 million euros expected, on average, by six analysts surveyed by Bloomberg News.
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