Unilever to sell frozen foods interests (update)

The brands up for sale include Birds Eye and Iglo.

On Thursday Unilever announced a net income of 684 million euros compared with a year-earlier loss of 144 million euros.

The company, based in London and Rotterdam, reported turnover was up 3 per cent to just under 40 billion euros.

That was bettered only by Swiss giant Nestle and American firm Procter and Gamble.

Unilever reported that annual profits rose 28% to 4.75 billion euros in 2005.

Unilever is a major producer of soaps and deodorants. However, its sales of frozen foods have come under pressure in recent years as consumers opt for fresh or chilled products.

Unilever will hold onto its frozen foods business in Italy, and its ice cream business - which includes the Carte D'Or, Magnum and Walls brands.

It is selling four factories in Britain and Germany which account for 1.4 billion euros in combined sales.

Birds Eye employs about 1,300 people in England, and unions there have voiced concerns about the sale.