Unilever profits rise amid 'sluggish' European performance "These results have been achieved in tough economic conditions, with volatile commodity costs and in an intensely competitive environment," said Chief Executive Paul Polman. Unilever has benefited from its exposure to emerging markets, contrasting with Ariel and Duracell maker Procter & Gamble, which is shedding jobs, and French yoghurt maker Danone, which may do the same as the European economic downturn weighs on its business. Last year, Mr Polman warned that Europe faced a decade-long slump unless leaders stopped "watering down" decisions over the future of the eurozone. "While progress is made the European way I think we're in for at least ten years of slow economic growth, and if you run a business like mine and you would not assume that, I think you're fooling yourself," he said. Unilever has also adopted marketing strategies used in developing countries in order to drive future growth in Europe, selling some of it products in smaller, cheaper sizes to appeal to austerity-hit consumers. In Spain, the company sells Surf detergent in packages for as few as five washes, while in Greece, it offers mashed potatoes and mayonnaise in small packages. The shares rose 2.7pc to 2,518p in early morning deals. The company will pay a fourth quarter dividend of 20.4p a share.