Unilever: outlook for 2024 maintained

(CercleFinance.com) - Underlying sales growth in Q3 was 4.
5%, against a backdrop of slowing market growth. Underlying volume growth (UVG) increased to 3.6% in Q3. Power Brands, which accounts for over 75% of sales, posted growth of 5.4% USG and volumes up 4.3%.

Sales of E15.2bn were in line with the previous year, with underlying sales growth offset by a currency effect of -2.8% and -1.5% from divestments net of acquisitions.

Our outlook for FY 2024 remains unchanged. We continue to expect underlying sales growth for 2024 to be within our multi-year range of 3% to 5%, with the majority of growth driven by volume, the group says.

Underlying operating margin for the full year should be at least 18%, with increased investment in our brands. We expect year-on-year margin growth in the second half to be lower than in the first half, management adds.


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