Sales Growth For Unilever Declines To 2.9% In The Third Quarter
According to the recently published data, the sales growth for Unilever in three months before October was reported to be lagging at 2.9%. Earlier this year, the figure for sales growth in the second quarter was 3.5% that had gained significant strength as compared to the first quarter that announced the sales growth at 3.1%.
Unilever PLC has experienced a sharp decline in sales growth in Q3 of 2019. However, owners of Pot Noodle, Vaseline, and Domestos have claimed that they are anticipating better profit margins. The overall revenue for the third quarter for FTSE 100 giant was also reported to have increased by 5.8%. The €13.25 billion increase in revenue was aligned with the previously forecasted figure (€13.27 billion) by the financial experts.
Improving Sales Growth Is The Top Priority For Unilever
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It was further added in the report that for the third quarter, 0.41 Euro cents will be paid as dividend per share to the investors. Mr. Alan Jope, the current Chief Executive Officer of Unilever expressed his disappointment with the released data and reiterated that his top priority as an executive lies in fueling the sales growth. Giving a wholesome picture of company’s performance, he further added that despite the lower than expected sales growth in the third quarter, we have still observed that volume and price are in good balance that has helped in maintaining the momentum for this quarter.
Mr. Jope was excited about Home Care and emerging markets to have contributed significantly to the sales growth. He has expressed his plans for portfolio evolution and innovation in an attempt to cater to the requirements of quickly expanding channels and geographies.
The CEO of transnational consumer goods company spoke with passion about the confidence that the board still holds in the figure for full-year sales growth to eventually align itself with the lower half of previously defined guidance of 3-5% (multi-year) range. He has also reemphasized his intent to enhance the operating margin in hopes of setting the platform to hit the target for the year 2020.
Unilever’s Performance On The Stock Market
The Unilever stock is still managing to hold close to the year-to-date high of €57.39. Currently trading at €54.56, the stock opened at €54.82 this morning, October 17th, 2019. It has made a daily high of €54.88 and a daily low of €54.11. The current market cap for Unilever is 146.72B and the price to earnings ratio (P/E) is set at 15.62.