Image: dpa
At Unilever, higher prices are boosting business. According to the British consumer goods manufacturer on Tuesday, sales in the first half of the year rose by around nine percent to 30.4 billion euros, while sales remained almost stable. The biggest boost came from the cosmetics and personal care business. The group includes brands such as Langnese, Dove and Knorr.
Analysts had expected a slightly lower group turnover. Management, on the other hand, is a little more optimistic. Shortly after the start of trading, Unilever shares were up almost five percent. Hein Schumacher, Unilever boss since the beginning of July, assumes that the price increases in the further course of the year will be lower than before. For 2023, however, he forecasts growth in revenue of more than five percent. Under Schumacher’s predecessor Alan Jope, the group had recently targeted the upper end of the range of three to five percent, which also applies in the long term.
Management also anticipates a slight improvement in the adjusted operating margin, thanks in part to investments in the brand portfolio for the full year. The margin rose by 0.1 percentage points to 17.1 percent in the first half of the year. The profit for the shareholders increased by a fifth to around 3.5 billion euros. According to Unilever, this was also due to partial sales and lower restructuring costs.
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