Unilever sees Q1 sales rise as it remains confident for year ahead
Unilever has reported a 10.5% increase in underlying sales growth for the first quarter, driven by price growth in response to continued high input cost inflation and an improved volume performance.
Unilever, who owns Dove, Simple, and Vaseline, saw turnover rise 7.0% to £13.1 billion (€14.8 billion), with its €1 billion+ brands accounting for 54% of total group turnover.
The beauty and wellbeing division shared a 9.3% increase in sales, driven by growth from Hair Care across all regions. Prestige Beauty and Health & Wellbeing delivered another quarter of double-digit growth, helped by Paula’s Choice and Hourglass.
Personal care sales were up 12.7%, boosted by high double-digit growth from deodorants and high single-digit growth from skin cleansing. Oral care achieved mid single-digit growth, which was led by strong pricing.
Looking ahead, Unilever now expects underlying sales growth for FY23 to be at the upper end of 3-5%, with an improved volume performance compared to 2022.
Alan Jope, CEO of Unilever, said: "Unilever has had a good start to the year, delivering another quarter of strong topline growth. We are continuing to execute well on our strategic priorities.
"We have stepped up both the effectiveness of our innovation and the investment behind our brands. Our new operating model is driving focused resource allocation, and is unlocking a culture of bolder, faster decision-making and disciplined execution.
"We remain focused on navigating through continued macroeconomic uncertainty and are confident in our ability to deliver another year of strong growth, which remains our first priority."