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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Unilever Plc | ULVR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 8.00 | 0.19% | 4,188.00 | 16:35:03 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 4,164.00 | 4,163.00 | 4,187.00 | 4,188.00 | 4,180.00 |
| Industry Sector |
|---|
| FOOD PRODUCERS |
| Top Posts |
|---|
Posted at 03/5/2024 08:23 by xtrmntr The strong performance by Reckitt (RKT) and Unilever (ULVR) in the first quarter proved a relief to investors, with their share prices subsequently gaining 6 per cent and 7 per cent, respectively. Only a few months ago, both companies were struggling to sustain volumes and margins against a relentlessly tough macro backdrop.Whether these trading updates indicate an imminent recovery or a temporary reprieve depends on who you ask.In Unilever's case, brokers remain divided over longer-term growth prospects. Berenberg is firmly in the bullish camp, with its analysts stating that the company's recent performance supports a re-rating of the stock. "We are pleased to see the group deliver volume growth that is meaningfully higher than that achieved by industry bellwethers," they said.The investment bank named Procter & Gamble (US:PG) and Nestlé (CH:NESN) as the most relevant comparators. The former managed no volume growth across the three months to the end of March, while the latter saw "real internal growth" its preferred measure fall by 2 per cent. Meanwhile, Unilever reported underlying volume expansion of 2.2 per cent up from 1.8 per cent in the final quarter of FY2023. It also achieved consensus-beating revenue growth in all three of the regions in which it operates.Unilever is still in the implementation phase of its growth action plan, which should give glass-half-full types confidence in further upgrades. Chief executive Hein Schumacher introduced the scheme centred around boosting the company's power brands last autumn. Although broker UBS acknowledged that it appears to be yielding some early benefits, it maintains a sell rating on the company."Our view remains that above and beyond a relatively average execution, the main reason behind Unilever's below peers' operational performance in recent years resides in a portfolio skewed towards lower growth [and] lower gross margin categories," the bank's analysts said. They highlighted skin cleansing and fabric care as areas of particular concern given their price elasticity.For its part, management has done little to boost investor expectations. It maintained guidance of 3-5 per cent organic sales growth for 2024, with a "modest improvement" to operating margins. The forthcoming demerger of Unilever's ice cream business may also provide a modest boost to profitability once completed. UBS estimated the underperforming division shaved 90 basis points off the company's operating margin last year.Some brokers are hoping that other consumer goods groups embrace the logic of spin-offs. "We don't see what synergies there are from selling baby food and surface cleaner within the same business," Bernstein's analysts said following Reckitt's Q1 update. "At the current valuation we think that management should be looking more seriously at a radical change in their corporate strategy."Like Unilever, Reckitt delivered consensus-beating sales growth across the three months to the end of March. This was driven by gains in its hygiene division, which helped to offset continued declines in its troubled nutrition business. Haleon (HLN) is something of an outlier in the consumer goods cohort in that it's purely a healthcare group. Consumers tend not to trade down for cheaper medicines when inflation bites giving the company a defensive edge over peers with, say, food production divisions.In its first-quarter update, Haleon's management continued to guide for organic revenue growth of 4-6 per cent this year, putting it ahead of most of its peers. However, its top-line figures in the first quarter were down 2.2 per cent to £2.92bn, slightly lower than broker consensus of £2.93bn, due to a strong prior-year comparative and currency headwinds. Operating profit was ahead of expectations, growing by 4.5 per cent to £455mn on the back of higher gross margin and cost efficiencies.Its shares fell by 3 per cent, although this may have more to do with fears around a forthcoming share sale by Pfizer (US:PFE) than any qualms over performance. Haleon began its life as a joint venture between the US pharma giant and GSK (GSK) before being spun off by the latter in 2022. Pfizer still owns some 23 per cent of Haleon's stock, however, and intends to keep selling this down potentially constraining share price growth as it does.Ultimately, there are reasons to be cautious around the UK's blue-chip consumer groups, even if their top lines or growth prospects look healthy. A rebound in demand in some segments won't solve issues with corporate structures in the long run. While Haleon is still dealing with the consequences of its own demerger, its peers have to figure out if (and how) to structure spin-offs in their ranks. |
Posted at 25/4/2024 10:17 by anhar Not bad figures generally but as an income investor it's disappointing that the quarterly divi, €¢42.68 for Q1 of 2024, has remained unchanged since Q4 of 2020. |
Posted at 26/3/2024 05:10 by alotto Considering how chronically under invested the ftse is, Amsterdam would be a wiser option. I don't know why investors are snobbing the UK. |
Posted at 15/3/2024 11:46 by blackhorse23 https://www.business |
Posted at 08/2/2024 15:31 by redbaron10 I've been building a position here now we have a CEO who is less interested in the painfully ethical strategy followed by the last boss, and who's interested in growing the power brands this company has.Inflation in input costs is slowly decreasing, and if Labour gets in this year, as anticipated, they will move closer to the EU in trade which will be viewed by the markets and the Ftse index positively imho.After the chaos of the last Tory 5-year term a Labour majority government will provide more stability for international investors to look more favourably at the Ftse.That doesn't mean the UK economically is out of the woods with the many challenges it has, but investors like more certainty than this government has been able to achieve with its yo-yo economic policy moves. |
Posted at 08/2/2024 15:18 by anhar wc: I'll settle for the capital gain instead....They're not mutually exclusive. I've held this share for a very long time and right now it is something like 2.5 times my original cost. Plus I've had all the divis over the years too. But it's still disappointing to an income investor like me that there has been no divi increase for two years. I've found across my widely diversified port that investing for income and holding very long term results in a decent ovwerall gain on balance, despite the few duds, though that's not my reason for investing. |
Posted at 08/2/2024 13:48 by anhar The full annual report will have to show the divi figures.But I agree they should have shown this in the preliminary announcement today, nearly all companies do so. They ought to be embarrassed about a divi that's been been the same for three years from a major blue chip like ULVR. I'm purely an income investor so this is particularly relevant for me. |
Posted at 08/2/2024 09:48 by topvest I have lost my patience with their results reporting - it always fails to give a simple summary...just sent this to investor relations..."Dear Sir / Madam, Congratulations on your annual results today. As a Chartered Accountant and 30yr+ private investor could I politely flag a frustration. Your results continue to not disclose the annual dividend in £ or Euro clearly. You just disclose the quarterly dividend. Many investors hold Unilever for dividends and your disclosure is beyond poor versus other companies. Could this be rectified? I would suggest that I am not alone in having to work out what your annual dividend is from an alternative source! It is very easily solved as most companies disclose the full year dividend in the summary. Your annual dividend is something that you should be proud of." |
Posted at 22/1/2024 10:33 by alotto Jonny, I agree on S&N, however the share price seems to be extremely resilient. I don't get why investors love this stock. |
Posted at 20/1/2024 17:50 by alotto I am reconsidering my holding in Unilever, but waiting till next results in Feb. If there are no early signs of revenue growth and higher margins I'll move onto something else.Disappointed to say the least. Kraft Heinz dodged a bullet evidently. 40 pounds per share were offered. After 6 years we are below that figure. 6 years! Not even in the best case I can see the share price reach £50 with a 1 year view. It is reasonable for an investor to expect 25% return in one year considering how much stagnation we had to endure for much too long. I may sound frustrated... I indeed am |
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