Unilever sales increase in Q1, boosted by growth in emerging markets
Consumer goods giant, Unilever, has announced its results for the first quarter of 2018, reported underlying sales growth of 3.7% compared to the prior year.
The Anglo-Dutch firm said that the increase was partly due to its strong performance in emerging markets and foodservice channels.
Unilever that innovations behind its premium ice cream brands also contributed to the positive results, as the company rolled out its successful Ben & Jerry’s non-dairy platform from the US into Europe and also launched variants of Magnum Core and Praline.
SEE ALSO:
- Ireland becomes first EU country to enter Chinese beef market in ground-breaking deal
- Hearthside Food Solutions sold to private equity firms for more than $2.4bn
- Diageo invests £150mn in Scotch whisky tourism
On top of this, the firm’s loose tea offering also added to the uptick in sales, driven by new innovations and market leadership.
Unilever said that Pukka Herbs organic herbal tea business which it acquired last year also performed well.
On top of this, the consumer goods giant said that it was successfully modernising its portfolio, responding to fast-growing segments such as ‘free-from’, vegan, health and wellness.
Speaking of the results, CEO Paul Polman said: “The first quarter demonstrates another good volume-driven performance across all three Divisions.
“The broad-based growth, including over 4% volume growth in emerging markets, shows that the ‘Connected 4 Growth’ programme is working and enhancing our long-term compounding growth model.
“We are further improving the quality and speed of our global and local innovation as a result of a more agile, consumer-facing organisation.
He added: “At the same time, we are maintaining strong delivery from our savings programmes and expecting to complete the exit from spreads in the middle of the year.”
