Unilever Sales Dip in H1, with Prestige Beauty Showing Strong Growth

LONDON – First half sales at Unilever, parent of brands ranging from Dove and Dermalogica to Magnum and Hellmann’s, dipped 0.9 percent to 26.1 billion euros. Underlying growth was 3.3 percent, fuelled by all the main product divisions. The small decrease in first half turnover was due to the sale of Unilever’s spreads business to KKR in late 2017, and was partially offset by a 1.1 percent currency benefit, Unilever said in a first half update on Thursday. Underlying sales in the beauty and personal care category rose 3.3 percent in the six months to June 30, with 1.7 percent coming from volume and 1.6 percent from price. Unilever’s prized prestige brands, including Dermalogica, Hourglass, and REN, saw double digit growth in the six months. The company also acquired the Garancia and Tatcha brands in the period. Operating margin overall in beauty and personal care improved, driven by efficiency programmes in brand and marketing investment, Unilever said. In the six months, emerging market sales growth was 6.2 percent, while European and North American growth was held back by the impact of the cold, wet weather on ice cream sales. In the emerging markets, China and South East Asia showed “good momentum” with India also making gains. Argentina remains

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