UN Unilever NV

2010 FIRST HALF YEAR RESULTS


  VOLUME MOMENTUM SUSTAINED WHILST INVESTING FOR THE LONG TERM




Half year highlights

* Turnover up 9.7% at EUR21.9 billion.

* Underlying volume growth 6.6%. Underlying sales growth 3.8% and
underlying price growth (2.6)%; in-year pricing was stable.

* Underlying operating margin up 30bps with continuing strong
gross margins offset by significant investment in advertising and
promotional expenditure, up 180bps.

* Net cash flow from operating activities EUR2.2 billion, up EUR.2
billion. Average trading working capital again reduced as a percentage
of turnover and has now been negative for three successive quarters.

* Fully diluted earnings per share EUR.70 up 36% reflecting
improved operating profit, lower restructuring and the favourable
impact of foreign exchange.

Second Quarter highlights

* Underlying volume growth 5.7%. Underlying sales growth 3.6% with
underlying price growth improving to (2.0)%; in-quarter pricing was
again stable.

* Underlying operating margin up 10bps with advertising and
promotions spend up 140bps.


 Chief Executive Officer"We have delivered another quarter of robust volume
growth with
improved volume market shares in all of our regions. This is an
encouraging result given the challenging economic and competitive
environment and reflects the continuing investment behind our brands,
better in-market execution, successful innovations and the extension of
our brands into new markets. The consistent strong performance of our
personal care business means that it became, in the quarter, our
largest category.

We continue to operate under the assumption of slow economic growth,
particularly in developed markets where consumer confidence remains
fragile. We do not expect competitive pressures to ease and our ability
to increase prices will remain constrained despite rising commodity
costs in the second half. We still expect underlying price growth to
turn positive towards the end of the year.

Notwithstanding this difficult environment and comparators which get
tougher as the year progresses, the results confirm again that our
strategy to focus on the consumer and to accelerate growth is working.
Our priority remains to drive profitable volume growth and strong cash
flow along with steady and sustainable improvement in operating margin
for the year as a whole."


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