Unilever sales grow by 4.4% as demand for hygiene products heightens
Unilever announced its results for the third quarter of 2020 – with underlying sales up 4.4%
CEO Alan Jope in a statement said: “We have delivered a strong performance this quarter. Volume-led growth shows the resilience of our portfolio and our agility in responding to rapidly changing dynamics across consumer segments, geographies and channels.”
The company’s progress was outlined by underlying sales growth of 4.4%, with 3.9% volume and 0.5% price, emerging markets underlying sales growth 5.3% and developed markets 3.1%, turnover decreased 2.4%, with a negative impact from currency of 7.7%, and quarterly shareholder dividend maintained at €0.4104 per share.
“We continue to progress our strategic change agenda. Our proposals to simplify Unilever’s dual-headed legal structure have received strong support from both NV and PLC shareholders, and we have set out our Clean Future strategy in Home Care, to eliminate fossil fuel-derived carbon from our cleaning products by 2030.
“The environment we are operating in will remain unpredictable in the near term, so we will continue to maintain the speed and agility of our response. Our focus remains volume-led competitive growth, delivering absolute profit and free cash flow” Alan Jope added.
Underlying sales growth accelerated compared to the second quarter. Elevated levels of growth for hand and home hygiene products continued, as well as for food consumed at home. Consumer demand for household cleaners to combat the spread of Covid-19 continued, with germ-killing and antibacterial benefits particularly sought after.
The multinational company owns over 400 brands including Axe/Lynx, Dove, Omo, Heartbrand ice creams, Hellmann’s, Knorr, Lipton, Lux, Magnum, Rexona/Degree, Sunsilk and Surf.
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