Unilever also raises prices, headwind in Asia

Asia's Tech News Daily

Unilever also raises prices, headwind in Asia

LONDON (ANP) –

Other manufacturers of consumer goods have also implemented price increases, such as the care and cleaning products group Procter & Gamble. Unilever’s sales have declined somewhat in recent times due to the impact of the corona pandemic in Southeast Asia and the lockdown measures in that region.

Overall, Unilever’s third-quarter sales fell 1.5 percent from a year earlier. Total turnover did increase by 4 percent to 13.5 billion euros. This is mainly because Unilever has increased prices and also through acquisitions.

split off

Unilever reports that the operational spin-off of the tea business was completed in early October and “is now focusing on the next phase for this company, which is expected to be an IPO, sale or partnership,” the company wrote in a statement to its quarterly results.

The group has been looking at the future of the division since the middle of last year, with brands such as Lipton and Pukka. In the past quarter, the company reportedly contacted potential buyers for the part, which is expected to bring in about 4 billion euros.

Unilever also raises prices, headwind in Asia | Financial
Source link Unilever also raises prices, headwind in Asia | Financial

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