Updated February 8th, 2024 at 12:59 IST
Unilever reports 5% increase in quarterly sales as volumes return
Analysts had expected a higher price increase, yet sales volumes surpassed their estimations.
Unilever results: Unilever announced a 5 per cent increase in quarterly sales, in line with expectations, as it implemented price hikes at a slower pace compared to previous quarters. This strategy resulted in a notable uptick in sales volumes, marking the first growth in ten quarters.
The company anticipates a slight enhancement in underlying operating margin for the fiscal year and foresees underlying sales growth to remain within the 3 per cent to 5 per cent range over the multi-year period.
Unilever, recognised for brands like Dove soap and Hellmann's condiments, revealed a approximately 5 per cent surge in fourth-quarter underlying sales, meeting the average forecast of analysts, according to a consensus provided by the company.
Underlying price growth for the fourth quarter stood at 2.8 per cent, while volumes increased by 1.8 per cent, marking a turnaround from the previous trend since the second quarter of 2021. Analysts had expected a higher price increase, yet sales volumes surpassed their estimations.
(With Reuters Inputs)
Published February 8th, 2024 at 12:59 IST