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Unilever’s power brands lead Q1 sales growth

Unilever's Power Brands lead growth in Q1

Consumer goods giant Unilever has released its results for the first quarter of this year, revealing a 4.4 per cent underlying sales growth (USG) and a 2.2 per cent volume growth. 

The company’s growth was led by its Power Brands, which represent 7 per cent of its turnover. The group achieved a 6.1 per cent USG, driven by a 3.8 per cent increase in volume, with strong performances from Dove, Knorr, Rexona, and Sunsilk.

The company’s turnover increased by 1.4 per cent to $24.6 billion (€15 billion), with a 2 per cent decline due to currency variations and 0.9 per cent decline from net disposals. 

In March, Unilever separated its ice cream business and launched a comprehensive productivity program Growth Action Plan.

Unilever’s CEO Hein Schumacher said the company is implementing the plan at speed, focused on three clear priorities, “delivering higher-quality growth, creating a simpler and more productive business, and embedding a strong performance focus”. 

“These actions will drive focus, faster growth and reduce costs. Dedicated project teams are progressing the work at pace,” Schumacher continued.

Overall, USG in the quarter was 4.4 per cent, with balanced volume and price growth.

Beauty and wellbeing’s sales increased by 7.4 per cent, and volume growth was 5.6 per cent, driven by continued double-digit growth from health and wellbeing and prestige beauty.

Sales in emerging markets grew by 5.4 per cent, with 3.9 per cent from volume, while sales in developed markets grew 3 per cent, with volumes almost flat at minus 0.3 per cent.

Looking ahead, Unilever expects underlying sales growth to be within the multi-year range of 3 per cent to 5 per cent, with an increasing contribution from volume growth.

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