This sparked a sharp reaction from Indian investors.
The stock of Hindustan Unilever Ltd was down 1.3 per cent on the Bombay Stock Exchange, to close the day at Rs 472 apiece.
Unilever, which derives 52-53 per cent of its $70-billion revenues from emerging markets, said it expected economic pressures to continue in 2013.
"We expect markets to remain ‘flat to slightly down’ in developed countries.
"In emerging markets, demand remains robust, but there is the risk of a modest slowdown in key markets," Unilever said.
The last three quarters have been particularly challenging for the Indian unit of the world's second-largest consumer products company, with volume growth steadily coming down from 9-10 per cent in the June 2012 quarter to seven per cent in the three months ended September 2012 to five per cent in the three months ended December 2012.
Analysts estimate the March quarter to be just as challenging for HUL, with volume growth likely to be five-six per cent.
"While HUL might benefit from softening input prices, competitive activity will continue to be high," Amar Ambani, head of research at Mumbai-based
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