Higher prices (+5.8%) and brisk demand from emerging countries have driven Unilever's sales in 3Q 2011. Sales rose 7.8% to ?12.1 bn (?11.55 bn in 3Q 2010) exceeding analysts' estimates. However, the company has warned of difficult conditions in the saturated European and US markets. Given the higher costs for raw materials, the adjusted operating margin in 2011 will at best reach the 2010 level.
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