Pandemic restrictions in several key markets are still keeping a lid on sales growth at Unilever, even as business begins to return to normal in the U.S. and Europe
Unilever confirmed its full-year guidance for flat margins, pushing up the company’s shares by more than 2% in London trading.—for years seen by analysts and investors as a competitive advantage—continues to present an array of pandemic-related challenges. Some 60% of Unilever’s sales are generated in emerging markets, with 14% of total sales coming from Southeast Asia, a larger proportion than some of its rivals.
The tougher environment in what were some of Unilever’s fastest-growing markets comes as the company and its rivals battle rising cost inflation that is prompting much of the consumer-products industry to increase selling prices. Unilever said it had raised prices in Latin America by 9% in the quarter, going through eight rounds of price increases in Brazil, as it sought to offset higher costs for freight, palm oil and soybean oil.
The comments follow similar forecasts this week from peers Nestlé and P&G, which have also raised selling prices, albeit at a lower average level in the quarter.
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