Unilever shares rise on results

Unilever reported better-than-expected third-quarter results yesterday, exceeding the cautious forecast for earnings growth made last month. The Anglo-Dutch consumer products group said that underlying earnings per share increased 6 per cent at constant exchange rates. Unilever shares rose 12p to 513p sterling in London as it reaffirmed its belief that underlying earnings per share would grow by slightly more than 10 per cent. The company reported that earnings had been buoyed by lower spending on advertising that swelled profit margins in Asia Pacific and Latin America.