Schumacher, who took over as CEO three weeks ago, wants to invest more in R&D and claw back dwindling market share by selling “superior” products and putting the customer first.
Underlying sales were up 9.1 percent due to price rather than volume growth as high input costs continue to bite.
Overall, the bank described the results as an “excellent sign-off” by former CEO Alan Jope, noting that sales, EBIT and EPS “comfortably” beat expectations.“I want to see more of our products performing better than the competition. Our brands should be winning superiority tests week in and week out. And when they are not, we should be taking decisive action.
But it was enough to boost the share price, which closed up nearly 5 percent at 42 pounds on the London Stock Exchange. As reported, he will earn a base salary of 1.85 million euros, and be entitled to annual bonus and shareholder awards. In the first half, sales in the beauty and well-being division rose 8.6 percent to 6.2 billion euros while personal care was up 7.3 percent to 6.9 billion euros compared with the corresponding period last year.
Unilever said its expectation for net material inflation for 2023 is around 2 billion euros, of which 0.4 billion euros is anticipated in the second half with sales volumes recovering as the months go on.
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