Unilever hikes prices by 11% in UK due to rising costs
Unilever has increased prices for products including Marmite, Pot Noodle, Magnum and Dove soap by up to 11% as it battles with rising costs throughout the supply chain.
The FMCG giant revealed that the price of what it buys will rise by billions of pounds this year, but it is solving this pressure by putting up prices.
As a result, the company warned that the outlook for how much costs might increase by is “uncertain and volatile”.
Despite the price rises, Unilever said that turnover reached €29.6 billion (£25.1 billion) in the first half of the year, a rise of 14.9%. and has increased its sales guidance accordingly.
“Unilever has delivered a first half performance which builds on our momentum of 2021, despite the challenges of high inflation and slower global growth,” Unilever CEO Alan Jope said.
Matt Britzman, equity analyst at Hargreaves Lansdown said that it is “no surprise to see inflation and global uncertainty called out as headwinds, but importantly for Unilever work done raising prices is keeping sales and profits moving in the right direction.”
Related news
Milk and dairy products are becoming more expensive: what is behind the price increase?
The price of milk and dairy products has increased significantly…
Read more >Thousands protest in London against inheritance tax on farms
Thousands of people demonstrated in London on Tuesday against inheritance…
Read more >Hungary’s agricultural relations with the United Kingdom are further strengthened
Cooperation in the fields of agriculture and trade between Hungary…
Read more >Related news
Why are parcel locker providers getting stuck? This data points to the reasons
Parcel terminals are becoming increasingly popular: this year, nearly three-quarters…
Read more >Using 30% less materials would be a solution to the climate crisis
The circular economy is a global imperative: it transcends geographical…
Read more >Sustainability and health: the rise of plant-based dairy products in Hungary
In recent years, plant-based dairy alternatives have gained significant popularity…
Read more >