Unilever shares rallied more than 7% in both London and U.S. premarket trading after the company reported strong first-half results and raised its full-year outlook. Underlying sales grew 5.8% in the quarter, with a 5.5% volume increase that beat the consensus estimate of 5.2%, while pricing edged up just 0.2%. The company now expects full-year underlying sales growth within its 4% to 6% multi-year range, an improvement from its prior forecast of growth at the bottom end, and anticipates volume growth of 3% for the year. Volume gains were seen in all categories except food, and RBC Capital Markets analyst James Edwardes Jones noted that even the weak European food performance supports management's plan to offload that business.
Unilever PLCStrong volume gains (5.5% increase) beat consensus and drove sales growth, indicating robust end-customer demand.
Unilever PLC