Why Unilever Shares Are Rising Today
Portfolio Pulse from Shivani Kumaresan
Unilever Plc (NYSE:UL) reported a 9.1% increase in underlying sales for the first half of FY23, with a 9.4% price increase and a 0.2% volume decline. The company's turnover increased by 2.7% to €30.4 billion. Unilever's underlying operating profit was €5.2 billion, a 3.3% increase from the previous year. The company expects its full-year underlying sales growth to be above 5%, ahead of its multi-year range. UL shares are trading higher by 4.82% at $53.97 in premarket trading.
July 25, 2023 | 1:09 pm
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Unilever reported strong H1 FY23 results with increases in sales, turnover, and operating profit. The company's positive outlook for full-year sales growth is likely driving the premarket increase in UL shares.
Unilever's strong H1 FY23 results and positive full-year sales growth outlook are likely contributing to the increase in UL shares in premarket trading. Investors may be reacting positively to the company's performance and outlook, driving up the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100