First Quarter highlights
• Underlying sales growth of 4.4%, with volume growth increasing to 2.2%
• All five Business Groups reporting underlying sales growth, led by Beauty & Wellbeing
• Turnover increased 1.4% to €15.0 billion with (2.0)% impact from currency and (0.9)% from net disposals
• Power Brands (75% of turnover) leading growth with 6.1% USG, driven by a 3.8% increase in volume
• Announced separation of Ice Cream and launch of major productivity programme to accelerate the Growth Action Plan
• 2024 outlook unchanged with underlying sales growth of 3% to 5% and a modest improvement in underlying operating margin
Chief Executive Officer statement
"Unilever delivered improved volume growth in the first quarter. This was driven by our Power Brands which saw underlying sales growth of 6.1%, with strong performances from Dove, Knorr, Rexona and Sunsilk.
We are implementing the Growth Action Plan at speed, focused on three clear priorities: delivering higher-quality growth, creating a simpler and more productive business, and embedding a strong performance focus. This is underpinned by our commitment to do fewer things, better and with greater impact.
In March, we announced the separation of Ice Cream and the launch of a comprehensive productivity programme. These actions will drive focus, faster growth and reduce costs. Dedicated project teams are progressing the work at pace.
Unilever's transformation is at an early stage, but we have increasing confidence in our ability to deliver sustained volume growth and positive mix as we accelerate gross margin expansion."
And later;
Dividends
The Board has declared a quarterly interim dividend for Q1 2024 of £0.3674 per Unilever PLC ordinary share or €0.4268 per Unilever PLC ordinary share at the applicable exchange rate issued by WM/Reuters on 23 April 2024.
https://www.investegate.co.uk/announcem ... nt/8155649
Also posted on Company News here; viewtopic.php?p=661300#p661300
I hold these in my HYP, and know others here do too.
Ian.