Unilever sees sales and turnover rise as it hikes prices
Unilever has enjoyed rising sales and turnover levels in the first few months of the year, as it rewards shareholders with a maintained dividend of €0.42 apiece.
The consumer goods giant, behind some of Britain’s most loved products such as Ben & Jerrys, Dove, Helmann’s and Magnum, had its turnover jump by nearly 12 per cent in the first quarter, while sales climbed by 7.3 per cent.
However, underlying price growth has crept up 8.3 per cent, as inflations starts to bite for British businesses and consumers.
CEO Alan Jope, said that the British conglomerate had been performing “well in a very challenging input cost environment.”
Unilever added that it expects input cost inflation of around €2.1bn (£1.7bn) in the first half of this year, but that the outbreak of war in Ukraine and the related increase in raw material inflation have raised our cost forecast for the second half of 2022 – where it has forecast inflation costs to hit €2.7bn (£2.2bn).
“We continue to reshape our portfolio into high growth spaces, with Prestige Beauty and Functional Nutrition again growing strongly. We remain on track to deliver the previously announced, simpler, more category-focused organisation structure on 1 July 2022,” added Jope.
“There is more to do as we navigate our business through unprecedented cost inflation, but we are making good progress. We are committed to sustaining this step-up in our growth and competitiveness.”
The London-headquartered company has also kicked of the first €750m (£631m) round of an up to €3bn (£2.5bn) share buyback scheme.