London / UK. (ul) British Unilever PLC announced its H1-2023 Trading Statement. Summary:
- Underlying sales growth of 9.1 percent, driven by all Business Groups, with 9.4 percent price growth and -0.2 percent volume
- Turnover increased 2.7 percent to EUR 30.4 billion, with -3.2 percent from currency and -2.7 percent from disposals net of acquisitions
- Underlying operating profit improved 3.3 percent to EUR 5.2 billion, with a 10bps margin improvement to 17.1 percent
- Underlying earnings per share improved 3.9 percent, diluted EPS up 23.6 percent,boostedby profit on disposals and lower restructuring spend
- Completed third EUR 750 million tranche of our ongoing share buyback programme of up to EUR 3 billion
- Brand and marketing investment increased EUR 0.4 billion in constant exchange rates
- Our billion+ Euro brands, accounting for 55 percent of Group turnover, delivered underlying sales growth of 10.8 percent, led by strong performances from Rexona, Hellmann’s, OMO, Sunsilk and Lux
- Continued portfolio reshaping with the announced acquisition of the frozen yoghurt brand Yasso and the sale of the Suave brand in North America
CEO Hein Schumacher: «Unilever’s performance in the first half highlights the qualities that attracted me to the business: an unmatched global footprint, a portfolio of great brands and a team of talented people. My early immersion in the business has confirmed my belief in Unilever’s strong fundamentals. The task ahead is to leverage these core strengths – supported by our simplified operating model – to drive improved performance and competitiveness. This is our absolute priority and it will mean bringing greater focus and sharper execution, with science-backed innovations and investment behind our brands. This opportunity to step up our performance and unlock our full potential makes it an exciting time to lead Unilever. I look forward to sharing further details when we report our Q3 results in October.» For additional information please read the company’s PDF file below (72 KB):
20230725-UNILEVER-H1-2023.OTHER TOPICS FROM THIS SECTION FOR YOU:
- Kellanova Company: Reports Strong Q3-2024 Results
- Starbucks: Reports Q4 and Full Year Fiscal 2024 Results
- Luckin Coffee: Announces Q3-2024 Financial Results
- Bunge Global SA: Reports Third Quarter 2024 Results
- Cheesecake Factory: Reports Q3-2024 Financial Results
- Sysco: Reports Q1-2025 Financial Results
- Mondelez International: Reports Q3 2024 Results
- Brinker International: Reports Q1 Of Fiscal 2025 Results
- Grupo Bimbo: Reports Third Quarter 2024 Results
- Paulig Group: strengthens position in World Foods
- Corbion: Q3-2024 Interim Management Statement
- Gruma: reports third quarter 2024 results
- AAK: announces Interim report for Q3-2024
- Darling Ingredients: Reports Q3-2024 Financial Results
- AAK: divests its North American Foodservice site
- Valora strengthens global leadership in pretzel market
- Coca-Cola Company: Reports Q3-2024 Financial Results
- Starbucks: reports preliminary results, suspends guidance
- Aryzta AG: announces 9M-2024 Interim Report
- JAB Acquires Mondelez’s Stake in JDE Peet’s