Market shares strengthened in most of our corporate categories. Our foods business achieved good growth, notably in ice cream and yellow fats. Personal care sales grew strongly both in the mass markets and in prestige fragrances following successful product launches. Profits and margins were lower as a result of higher marketing investments in support of product launches. Profits grew strongly with major contributions from South Africa and Arabia and an improvement in Nigeria.
Margins are well ahead of last year.
There was also good growth in India in response to major marketing initiatives. These priority areas accounted for the majority of the profit increase, with results in China remaining weak. Significantly increased marketing investments and reorganisation costs reduced operating profit against a background of weakening consumer demand. We continue to make good progress in Mexico. Net gearing is therefore zero.