 "HUL, Hindustan Unilever, demonetisation, India, Brazil, recession, sales")
Unilever has said that demonetisation in India and a recession in Brazil had an impact on its fourth-quarter results as global consumer major’s sales missed estimates.
The impact of currency purge in India is likely to continue for some time, the parent of Hindustan Unilever Ltd (HUL) said.
In October-December, Unilever’s underlying sales rose 2.2 per cent, its worst performance in two years and lower than analyst estimates of 2.6 per cent, according to Bloomberg.
Unilever said in a conference call after announcing its earnings that the impact of demonetisation was felt the most in central India as the banking sector is not
