April 25 Reuters Unilever said on Thursday its firstquarter sales rose by a better than expected 4.4, as one of the world39;s biggest consumer goods groups won back shoppers who had traded down to cheaper products.

Unilever, which makes products ranging from Dove soaps to Hellmann39;s mayonnaise, increased its sales volumes by 2.2, its second quarter of growth after several of declining volumes. It raised prices by 2.2.

Consumer goods companies are fighting to recover volumes lost after months of price increases introduced to pass higher input costs onto the customer. Prices had risen initially due to the COVID19 pandemic, followed by Russia39;s invasion of Ukraine.

Analysts had expected Unilever39;s sales volumes to rise by 1.2 and prices to increase by 1.8. Its underlying sales growth was above the 3 estimate seen by the analysts in a companyprovided consensus.

Unilever also maintained its fullyear outlook and said it expects sales volumes to continue to improve.

We have increasing confidence in our ability to deliver sustained volume growth as we accelerate gross margin expansion, CEO Hein Schumacher said in a statement.

Unilever39;s price hikes had gradually slowed in 2023, and that trend continued in the first quarter of this year.

Reporting by Agata Rybska; Editing by David Goodman, Matt Scuffham and Alexander Smith

Source Reuters