Unilever Q3 underlying sales up, raises FY guidance
By Iain Gilbert
Date: Thursday 27 Oct 2022
(Sharecast News) - Consumer goods company Unilever said on Thursday that underlying sales had grown in the third quarter, leading the group to raise its full-year sales guidance.
Unilever stated underlying sales were up 10.6% over the three months ended 30 September and 8.9% year-to-date. Beauty and wellbeing sales were up 6.7%, while personal care sales were 8.9% higher and home care sales improved by 13.6%.
Price growth stepped up to 12.5% in the quarter, with volumes declining 1.6%, and turnover increased 17.8%, including a currency impact of 8.8% and -2.1% from disposals net of acquisitions.
As a result, the FTSE 100-listed group now expects underlying sales growth for the full year to be above 8% as it warned of "more negative underlying volume growth" than seen in the first nine months.
Chief executive Alan Jone said: "Unilever has delivered another quarter of growth in challenging macroeconomic conditions.
"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."
Reporting by Iain Gilbert at Sharecast.com
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