Consumer goods giant Unilever said it had seen a “step up” in performance as sales increased in the last quarter of 2020.
The Anglo-Dutch company, which is moving to a single headquarters in London, reported underlying sales growth of 1.9% in 2020, with that rising to 3.5% in the last three months of the year.
The company – which makes everything from Domestos and Hellmans mayonaisse to Persil and Magnum ice creams – has its R&D centre in Liverpool.
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Unilever said volatility and unpredictability would continue in its markets throughout 2021 but that it was “confident in our ability to adapt to a rapidly changing environment.”
CEO Alan Jope said: “Early in the year, we refocused the business on competitive growth, and the delivery of profit and cash as the best way to maximise value.
“We have delivered a step change in operational excellence through our focus on the fundamentals of growth. As a result, we are winning market share in over 60% of our business in the last quarter, on the basis of measurable markets.
“The business also generated underlying operating profit of €9.4bn and free cash flow of €7.7bn, an increase of €1.5bn.”
Unilever said it was looking to develop its portfolio in 'high growth spaces' and was also looking to strengthen its market position in the US, India and China.
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It is also looking to build on its position in e-commerce.
The company said its sales during the pandemic had been driven by hand and home hygiene products, laundry, food and refreshments.
But as people stayed at home more and socialised less, they spent less on cosmetics.
The company's overall turnover fell 2.4% to €50.7bn and operating profit was also down by 4.6% to stand at €8.3bn.