Unilever: Q3 driven by price increases
(CercleFinance.com) - Unilever said on Thursday that its Q3 sales growth exceeded expectations, mainly due to price increases, an announcement that was welcomed by the stockmarket.
The Anglo-Dutch group, which owns the Axe, Knorr and Lipton brands amongst many others, this morning said that its organic growth had reached 2.5% over the past quarter.
In comparison, analysts were expecting sales growth of 2.2%.
While sales volumes fell by 1.5% in the quarter, Unilever was saved by higher prices, which rose by 4% amid rising inflation.
With organic growth of 4.4% in the first nine months of the year, Unilever said that it is on track to meet its medium-term forecast of annual growth of between 3% and 5%.
The consumer products giant also maintained its forecast for an unchanged (or almost unchanged) profit margin this year.
Unilever shares on Euronext Amsterdam were up 2.4% in early trading. Even so, they are still down 8.5% YTD.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The Anglo-Dutch group, which owns the Axe, Knorr and Lipton brands amongst many others, this morning said that its organic growth had reached 2.5% over the past quarter.
In comparison, analysts were expecting sales growth of 2.2%.
While sales volumes fell by 1.5% in the quarter, Unilever was saved by higher prices, which rose by 4% amid rising inflation.
With organic growth of 4.4% in the first nine months of the year, Unilever said that it is on track to meet its medium-term forecast of annual growth of between 3% and 5%.
The consumer products giant also maintained its forecast for an unchanged (or almost unchanged) profit margin this year.
Unilever shares on Euronext Amsterdam were up 2.4% in early trading. Even so, they are still down 8.5% YTD.
Copyright (c) 2021 CercleFinance.com. All rights reserved.