“Our performance in the first half year has been good in what has been a challenging environment,” says group chief executive Patrick Cescau. “The changes already implemented in the business have made us nimbler and better able to respond to the market conditions. We are doing so against our clear priorities of maintaining competitiveness, improving margins and investing selectively to gain market share. Looking to the future, our strategy leverages our strong brands, broad geographic footprint and products that meet everyday needs across a wide range of price points. For this year, we confirm our outlook for delivering growth ahead of our 3-5% target range, with an underlying improvement in operating margin.”
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