Unilever: Corporate giant's yearly sales are boosted by higher prices

Unilever, which makes hundreds of household brands, has revealed its yearly sales were boosted by higher prices and selling more products.

Transcript

00:00 Hello, my name's Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post,

00:05 and here are your business headlines for this morning.

00:08 Unilever, which makes hundreds of household brands, has revealed its yearly sales were

00:12 boosted by higher prices and selling more products. The business behind brands, including

00:17 Ben & Jerry's, said that its performance needs to improve as inflation has begun to

00:22 cool. Total underlying sales grew by 7% in 2023 compared to 2022. This was driven by

00:30 prices which rose 6.8% over the period, while the volume of items sold crept up by 0.2%.

00:38 It's the first time in more than a year that the company sold more products. Its nutrition

00:44 and ice cream brands, such as Magnum, saw the biggest price rises while the volume of

00:49 sales declined, meaning people were paying more money for fewer items. Unilever said

00:55 inflation began to cool during the second half of the year from double-digit price growth

01:00 in the first few months of 2023. So an update this morning from Unilever, which makes hundreds

01:05 of household brands, it says its yearly sales were boosted by higher prices. My name's Greg

01:11 Wright and I'm the Deputy Business Editor of the Yorkshire Post.

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