Ups quarterly interim dividend by 3% (Il Sole 24 Ore Radiocor) - London, 25 Jul - Anglo-Dutch consumer products company Unilever said that its first half turnover rose a reported 2.3% to 31.1 billion euros and was up an underlying 4.1% driven by 7.1% growth at Beauty & Wellbeing and a 5.6% increase in Personal Care.

Home Care underlying sales growth was 3.3% and Nutrition was up 3.2%.

In the second quarter alone, turnover rose a reported 2.2% to 16.1 billion euros with underlying sales growth of 3.9%.

Underlying operating profit rose 17.1% to 6.1 billion euros for a margin of 19.6%, up 250 basis points while underlying earnings per share rose 16.3% to 1.62 euros.

Unilever said it continues to expect underlying sales growth (USG) for 2024 within the multi-year range of 3-5%, with the majority of the growth being driven by volume. The underlying operating margin for the full year is expected to be at least 18%, with increasing investment behind the brands. It said it expects the year-on-year margin progression in the second half to be smaller than in the first half. The very strong gross margin progression in the first half reflects positive contributions from volume leverage, mix, and net productivity but also factors that will not repeat in the second half such as, a low prior year comparator affected by high input costs, and carry-over pricing from a period of higher inflation.

The company also said that as a result of the strong first half performance, the board increased the quarterly interim dividend for the second quarter by 3.0% to 0.4396 euros, the first increase since the fourth quarter of 2020.

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(RADIOCOR) 25-07-24 08:21:32 (0177) 5 NNNN