After pushing through record price rises of 12.5% in the third quarter, Unilever Plc increased its full-year sales projection. On October 26, 2022, the company that makes Ben & Jerry's ice cream and Dove soap announced underlying sales growth for the quarter that increased by 10.6% because of higher selling prices, despite a 1.6% decline in sales volumes. There was a slight decrease in the total revenue and net profit incurred by the company, Unilever Plc, in this half-yearly, Jun 2022, as compared to the previous half-yearly data, Dec 2021, and Jun 2021, according to GlobalData.
Businesses in the consumer products sector are raising prices to cover rising expenses for materials, transportation, and labor while attempting to prevent consumers from becoming discouraged from purchasing their brands when they are also facing high inflation. As reported by the company, the third quarter saw Unilever adopt its largest price increases, marking its eighth quarter of price increases.
Unilever had not anticipated the sales volumes to decline because of increasing prices. As consumers struggle with growing costs, particularly in Europe, the company predicts a further volume decline in the fourth quarter. Rexona deodorant marketed as Degree in the United States, and Hellmann's mayonnaise, two of Unilever's most popular brands, are projected to see better-than-anticipated growth rates for the entire year, according to the company.
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