Unilever: organic growth in line with expectations

(CercleFinance.com) - On Thursday, Unilever reported underlying sales growth of 5.
2% for Q3, bang in line with the market consensus established by the group itself.

The Anglo-Dutch FMCG giant reported a favourable price effect of +5.8%, which more than offset a 0.6% decline in sales volumes.

Overall, Unilever's Q3 sales fell by 3.8% to E15.2bn, again in line with expectations.

The owner of Ben & Jerry's ice cream, Dove cosmetics and Hellman's mayonnaise confirmed its target of underlying sales growth of over 5% in 2023, accompanied by a modest improvement in its operating margin.

Unilever also announced that it has appointed Fernando Fernandez, head of its Latin American operations, to succeed Graeme Pitkethly as CFO, as from 1 January 2024.

Following these announcements, Unilever shares were down over 2.5% in Amsterdam on Thursday morning.


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