(News Bulletin 247) – Unilever announced Thursday that it has raised its forecast for the full year after having signed a ‘solid’ start to the year, marked by performance above market expectations.

The Anglo-Dutch consumer goods giant said this morning that it now expects underlying sales growth in the high end of its hitherto targeted range of 3% to 5% for 2023.

For its first quarter, the group reported an acceleration in organic sales growth, which stood at 10.5%, while analysts expected an increase of only 7.2%.

In its press release, the manufacturer of Amora mustard and Ax deodorants explains that it has mainly benefited from the 10.7% increase in its prices, intended to offset the rise in inflationary tensions.

Unilever, which expects its prices to remain strong in the first half before an expected slowdown in the second half of the year, said it expects a 16% operating margin in the first half.

In a reaction note released in the morning, RBC analysts welcomed these performances, noting in particular the intention expressed by the group “to invest in its brands”.

On the London Stock Exchange, the Unilever action took 1.4% Thursday morning following the publication of these figures.

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