July 25 Reuters Unilever beat firsthalf profit expectations on Thursday boosted by resilient pricing even as sales growth disappointed.
Shares in the maker of Dove soap and Hellmann39;s condiments rose 6.8 in early trade to the top of London39;s FTSE 100 index.
Unilever posted a 3.9 rise in secondquarter underlying sales, below the 4.2 increase expected by analysts in a companycompiled consensus.
It maintained its fullyear underlying sales growth forecast of 3 to 5, mostly driven by volume, while its forecast for an underlying operating margin of at least 18 was stronger than the market view.
Switzerland39;s Nestle also reported lower than expected halfyear sales growth on Thursday and lowered its full year outlook.
There is much to do, but we remain focused on transforming Unilever into a consistently higher performing business, CEO Hein Schumacher said in a statement.
After a protracted global cost of living crisis, some consumer goods makers have been easing their price increases, hoping to attract back shoppers who traded down to cheaper, often private label products.
Unilever39;s underlying price growth for the quarter was less than expected at 1, but underlying volume sales growth ran ahead of estimates at 2.9.
The industry has struggled with soaring costs for several years, with everything from sunflower oil and shipping to packaging, grain and energy becoming more expensive during and in the wake of the pandemic and Russia39;s invasion of Ukraine….