27th Oct 2022 09:35
(Alliance News) - Unilever PLC on Thursday reported strong growth in the third quarter, with all of its units seeing double-digit growth, except for Nutrition.
The FTSE 100-listed consumer goods company said for the three months ended September 30, turnover rose 18% to EUR15.8 billion from EUR13.5 billion a year ago, with underlying sales growth at 11%.
In particular, Beauty & Wellbeing reported a turnover of EUR3.3 billion, up 25% year-on-year. Personal Care was up 20% to EUR3.6 billion, Home Care 22% to EUR3.2 billion, and Ice Cream rose 21% to EUR2.4 billion.
Nutrition turnover, however, only increased by 4.8% to EUR3.3 billion.
For the first nine months of 2022, group turnover increased by 16% to EUR45.6 billion from EUR39.3 billion a year ago.
"Price growth has sequentially improved in each of the past seven quarters, reaching 13% in the third quarter. While pricing had, as expected, some negative impact on volume, underlying volume growth improved in four Business Groups compared to the second quarter," Unilever explained.
Unilever has maintained a quarterly interim dividend of EUR0.43 per share.
Chief Executive Officer Alan Jope said: "The global macroeconomic outlook remains mixed, and we expect the challenges of high inflation to persist in 2023. The delivery of consistent growth remains our first priority."
Looking ahead, it now expects underlying sales growth for 2022 to be above 8%. Previously, it had expected sales growth in 2022 to be in the range of 4.5% to 6.5%.
In July, Unilever reported a pretax profit of EUR4.36 billion for the first half of 2022, down 0.2% from EUR4.37 billion a year before, on revenue that grew 15% to EUR26.62 billion from EUR25.79 billion.
Shares were down 0.2% at 3,861.00 pence each on Thursday morning in London.
By Xindi Wei; [email protected]
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