Unilever says new products and a leaner organisation will improve growth
London — Anglo-Dutch consumer goods maker Unilever told investors on Wednesday that it expects new products and a leaner organisation to help win an intensifying battle to sell packaged goods around the world. The maker of Dove soap and Knorr soup, which is under huge shareholder pressure since rebuffing a $143bn takeover bid in February from Kraft Heinz, posted an unexpected slowdown in sales last month, citing lost market share to smaller rivals. The company’s ¤20bn-a-year personal care business, often seen as its most attractive, posted only 2.4% growth in the first nine months of the year, but the unit’s president, Alan Jope, on Wednesday said it should be back above 4% soon. "I’m not going to give an exact date," Jope said during an investor event in New Jersey that was broadcast online. "But I don’t think I’d be standing here with this tone and this cocky, relaxed position if it wasn’t going to come around quite soon." In explaining the slowdown, Jope pointed to lower growth o...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.