Unilever 3Q Underlying Sales Rose, Backs Margin Guidance Despite Cost Inflation

By Joe Hoppe

Unilever PLC said Thursday that third-quarter underlying sales rose on good growth in its priority markets of the U.S., China and India, development of online shopping channels and growth of portfolio brands.

The Anglo-Dutch retailer--which owns consumer brands such as Ben & Jerry's ice cream and Dove soap--said quarterly underlying sales rose 2.5% year-on-year, and that turnover increased to 13.5 billion euros ($15.7 billion). This compares with turnover of EUR12.9 billion in the year-earlier period.

Cost inflation remains at strongly elevated levels, and this will continue into next year, the company said.

"We have and will continue to respond across our categories and markets, taking appropriate pricing action and implementing a range of productivity measures to offset increased costs," Chief Executive Alan Jope said.

The company said that it continues to expects to deliver in line with its guidance for flat margins for the full year.

The board declared a quarterly dividend of 42.68 European cents, compared with 41.04 European cents the prior year.

Write to Joe Hoppe at [e-mail]

(END) Dow Jones Newswires

October 21, 2021 02:33 ET (06:33 GMT)

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