LONDON (Reuters) – Unilever posted better-than-expected quarterly sales growth on Tuesday as the company raised prices again to offset rising costs.
The maker of Dove soap and Ben & Jerry’s ice cream reported a 7.9% rise in underlying sales in the second quarter, beating analysts’ average forecast of 6.4%, according to a consensus provided by the company.
The UK company said it expects underlying sales growth for the full year to be above 5%, ahead of its long-term targets as the rise in underlying prices continues to moderate.
Unilever, which in February forecast net commodity inflation of around 1.5 billion euros for the first half of 2023, said it intended to continue to increase prices in the first half, before slowing these increases over the last six months of the year.
Competitors P&G and Nestlé are due to release results this week.
(Reportage Richa Naidu; Gaëlle Sheehan, edited by Kate Entringer)
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