LONDON (AFP) – Unilever yesterday reported higher revenue in the first quarter as high inflation pushed the British consumer goods giant to hike prices.
The maker of products ranging from Magnum ice cream and Cif surface cleaner to Dove soap, said revenue increased seven per cent to EUR14.8 billion (USD16.4 billion) compared with the first three months of 2022.
Unilever, like companies worldwide, is passing on higher costs to customers as inflation stays stubbornly elevated.
Rising revenue at Unilever in the first quarter was “driven by price growth in response to continued high input cost inflation and an improved volume performance”, outgoing Chief Executive Alan Jope said in the earnings statement.
“We remain focussed on navigating through continued macroeconomic uncertainty and are confident in our ability to deliver another year of strong growth, which remains our first priority,” he added.
Unilever earlier this year announced that head of Dutch dairy and nutrition firm Royal FrieslandCampina Hein Schumacher would succeed Jope in July.
