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Unilever not happy with strike in Brazil, plans to exit Britain's FTSE 100

Unilever
Retail   The group said the strike in Brazil would reduce sales

Unilever is "extremely unlikely" to stay in Britain's FTSE 100 blue chip share index after the company moves its headquarters to the Netherlands.


Unilever also said on Thursday that a truckers strike in Brazil would hit sales more than expected, contributing to a 4 percent drop in the company's shares.

The group said the strike in Brazil last month - which prevented all deliveries to factories or stores for 11 days - would reduce second-quarter sales by 150 million euros ($177.38 million).

That translates to about 120 basis points of sales growth for the second quarter and 60 basis points for the half year, chief financial officer Graeme Pitkethly said.

He said Unilever's overall sales growth for the first half of the year would be below its full-year target range of 3 to 5 percent because of the strike, but it would be in that range for the full year.

 

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