Unilever declares 11.8% increase in turnover  in Q1 of 2022

Unilever, the multinational Fast Moving Consumer Goods (FMCG) company, has declared a 12 percent increase in turnover in the first quarter of 2021. According to a statement by the company, underlying sales grew by 7.3 percent

Commenting on the performance, Alan Jope, Chief Executive Officer, Unilever, said: “We are executing well in a very challenging input cost environment. Underlying sales growth of 7.3% was driven by strong pricing, with a limited impact on volume in the quarter. This performance was delivered against the backdrop of significant rises in input costs that have further accelerated through the first three months of the year, and the human tragedy of the war in Ukraine.

Impressed by the company’s sales performance even as cost input inflation and the war in Ukraine take their toll on the global economy, the CEO said: “The delivery of another solid quarter of sales growth builds on the improved growth momentum that we achieved in 2021 and is underpinned by Unilever’s increased focus on operational excellence as well as disciplined adherence to our chosen strategic priorities. We are maintaining strong investment in our top brands, growing our 13 billion+ Euro brands by 8.8% in the quarter. E-commerce sales now represent 14% of turnover following another quarter of strong double-digit growth.

“Our priority markets of the USA, India, and China all grew competitively. We continue to reshape our portfolio into high-growth spaces, with Prestige Beauty and Functional Nutrition again growing strongly. We remain on track to deliver the previously announced, simpler, more category-focused organisation structure on 1 July 2022.”

He, however, said: “There is more to do as we navigate our business through unprecedented cost inflation, but we are making good progress. We are committed to sustaining this step-up in our growth and competitiveness.”


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