|Unilever Shares Fall
Unilever today (20 September) issued a profits warning, sending investors into something of a selling frenzy. Shares in the consumer goods and food giant tumbled by more than 6%, reaching a 4-year low.
The company has been facing increased competition in the soaps and washing powders sectors (its products include the Dove brand of soaps), with its ice-cream business also having been hit by poor summer sales.
The profit warning stated that the group's expectations were that annual earnings per share would grow by less than 5%. This news will have shocked many small investors, as the previous predicted growth had been 10% for the year.
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