UK-based Unilever has said currency fluctuations as well as inflation are affecting its performance.
Although it reported underlying YTD sales growth of 7.4% and net profits up 22% thanks to disposals, Unilever said much of the increase in its third quarter results was from price rises to offset growing costs. It added that volumes had held up well, up 0.6% in the third quarter and 0.7% on the year to date.
Fluctuating exchange rates had a significant effect on the business, as did the impact of the disposal of Boursin cheese, North American Laundry and Lawry's seasonings. After these were factored in, turnover grew 0.2%.
"We have strengthened the business. We have been reshaping the portfolio, allowing us to focus resources where it matters most; behind our brands and our priority categories," said departing chief executive Patrick Cescau.
Although it reported underlying YTD sales growth of 7.4% and net profits up 22% thanks to disposals, Unilever said much of the increase in its third quarter results was from price rises to offset growing costs. It added that volumes had held up well, up 0.6% in the third quarter and 0.7% on the year to date.
Fluctuating exchange rates had a significant effect on the business, as did the impact of the disposal of Boursin cheese, North American Laundry and Lawry's seasonings. After these were factored in, turnover grew 0.2%.
"We have strengthened the business. We have been reshaping the portfolio, allowing us to focus resources where it matters most; behind our brands and our priority categories," said departing chief executive Patrick Cescau.
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