Unilever recently announced its third-quarter results for 2021, noting underlying sales growth of 2.5 percent. The company also divulged its progress in overseas markets in addition to its growth across portfolios.
“We have delivered a good quarter against strong comparators, with underlying sales growth of 2.5 percent. The combination of our strategic choices and focus on operational excellence continue to drive competitive growth,” Chief Executive Officer Alan Jope commented. “Underlying sales growth is now at 4.4 percent for the year to date, and we are confident that we will be well within our multi-year framework of 3–5 percent for the full year.”
The company’s release stated operating environment across Unilever’s markets remains volatile, and restrictions on daily life continue around the world to varying degrees, impacting channel dynamics, sales mix, and consumer behavior.
Jope noted the company’s strategic choices are having a positive impact on Unilver’s growth and business momentum. Key takeaways include:
“Cost inflation remains at strongly elevated levels, and this will continue into next year,” continued Jope. “We have and will continue to respond across our categories and markets, taking appropriate pricing action and implementing a range of productivity measures to offset increased costs. We continue to expect that we will deliver in line with our margin guidance of around flat for the full year.”
According to the release, the company’s Foods and Refreshment division had underlying sales growth of 3.0 percent, with negative 0.8 percent from volume and 3.8 percent from price.
Food solutions grew by double-digits, with China and markets across Europe and Latin America delivering sales above 2019 levels. Consumer demand for in-home food remained strong, although sales in the third quarter were slightly down as the company lapped a strong prior period of growth. Knorr and Hellmann’s both grew mid-single digit supported by superior product performance and investments in sustainable packaging.
To dive into the release more, click here.
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