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PRIVACY
Manufacturing

Lockdown performance shows 'true strength' of Unilever as firm lays out plans for rest of 2020

'We have unlocked new levels of agility in responding to unprecedented fluctuations in demand'

The Unilever Marmite factory in Burton on Trent, Staffordshire

Global products giant Unilever has said its positive half-year results show the "true strength" of the company, and laid out its focus for the remainder of 2020.

The firm's results released this morning show that underlying sales fell by just 0.1% in the first six months of the year, with developed markets up 2.4% and emerging markets down 1.9%.

Underlying operating profit for the firm whose brands include Dove and Lynx was €5.1bn, an increase of 3.8% excluding a negative impact from currency of 3.2%.

That's despite the coronavirus crisis which saw various parts of the world locked down since the start of the year, events that had a "varied" impact on the business across its brands.

That included food service declining by nearly 40% and out-of-home ice cream declining by nearly 30%. Shoppers moved from offline to online channels, driving ecommerce growth of 49%, the firm said.

The six months also included a strategic review of the global tea business including brands such as Lipton, Brooke Bond and PG Tips. It was decided that they shall remain in India and Indonesia.

CEO Alan Jope said: “Performance during the first half has shown the true strength of Unilever.

"We have demonstrated the resilience of the business – in our portfolio, in a continued step-up in operational excellence, and in our financial position – and we have unlocked new levels of agility in responding to unprecedented fluctuations in demand.