Unilever Trading Statement - Third Quarter 2023.
Third quarter highlights
• Underlying sales growth of 5.2% with 5.8% price growth and (0.6)% volume decline
• Underlying price growth continues to moderate as inflation eases, with underlying volumes now positive in Beauty & Wellbeing, Personal Care and Home Care
• Turnover decreased (3.8)% to €15.2 billion with (8.0)% from currency and (0.6)% from disposals net of acquisitions
• Our billion+ Euro brands, accounting for 56% of Group turnover, delivered underlying sales growth of 7.2%, with 5.7% price growth and 1.4% volume growth, led by strong performances from Dove, Hellmann's, Rexona and Sunsilk
• Our 2023 outlook remains unchanged with underlying sales growth above 5% and a modest improvement in underlying operating margin
• Today we set out an action plan focused on: faster growth, greater productivity and simplicity, powered by a stronger performance culture. These targeted actions will address the gap between our past performance and potential, delivering improved value creation
Chief Executive Officer statement
"Unilever is a company with strong fundamentals: a portfolio of great brands used by 3.4 billion people each day, number one or two category positions across 80% of its turnover, an unrivalled global footprint, and a team of talented people.
Despite these strengths, our performance in recent years has not matched our potential. The quality of our growth, productivity and returns have all under-delivered.
Today we are setting out our action plan to close this gap. We will drive faster growth by stepping up innovation and investment behind our Power Brands; we will drive simplicity and productivity, leveraging the full strength of our operating model; and we will sharpen our performance culture through strong leadership and stretching goals.
I am excited about what we can achieve by delivering on these three priorities, as we focus on unlocking Unilever's full potential in the months and years ahead."
And later;
Dividends
The Board has declared a quarterly interim dividend for Q3 2023 of £0.3715 per Unilever PLC ordinary share or €0.4268 per Unilever PLC ordinary share at the applicable exchange rate issued by WM/Reuters on 24 October 2023.
The following amounts will be paid in respect of this quarterly interim dividend on the relevant payment date:
Dividend £0.3715, ex div 16 Nov 23, paid 08 Dec 23.
https://www.investegate.co.uk/announcem ... ts/7839947Ian.