LONDON (Reuters) -Unilever met market expectations for third quarter sales growth after raising prices at a slower rate but still failing to win back some shoppers who traded down to cheaper products during a cost of living crisis.
The company also named Fernando Fernandez, currently president of the beauty and wellbeing business, as its new chief financial officer.
Unilever reported a 5.2% rise in underlying sales, meeting analysts’ average forecast, a company-provided consensus showed.
Underlying price growth for the third quarter was 5.8% while underlying volumes were down 0.6%. Prices increased at a faster pace than expected by analysts, who also forecast that volumes would rise for the first time in about two years.
(Reporting by Richa NaiduEditing by Mark Potter)
