(VIANEWS) – According to Reuters, Unilever PLC shares fell on Thursday, after it reported a small fall in pretax profits for the first six months of the year. It also stated that full-year margins would remain flat due to rising costs.
Anglo-Dutch multinational goods producer, which owns brands like Ben & Jerry’s ice cream and Dove soap, and Cif and Domestos cleaner products, posted a pretax profit in the period of 4.37 billion euro ($5.15 trillion) compared to EUR4.53 billion a previous year.
Shares of Unilever (UL) fell 5.23% to $55.64 at 09:47 EST on Thursday, after two sequential sessions in a row of gains. NYSE Composite is jumping 1.11% to $16,503.47, after two successive sessions in a row of gains. This seems, up to now, an all-around positive trend trading session today.
Unilever’s last close was $59.74, 6.5% below its 52-week high of $63.89.
Today’s last reported volume for Unilever is 947614 which is 37.11% below its average volume of 1506719.
Year-on-year quarterly revenue growth declined by 3.3%, now sitting on 50.72B for the twelve trailing months.
Unilever’s Stock Yearly Top and Bottom Value
Unilever’s stock is valued at $55.64 at 09:47 EST, way below its 52-week high of $63.89 and higher than its 52-week low of $51.98.
Unilever’s Moving Average
Unilever’s value is under its 50-day moving average of $59.85 and below its 200-day moving average of $58.03.
News about Unilever (UL) today
Unilever India’s profit disappoints as covid crimps demand. According to today’s article on Bloomberg Quint, “Hindustan Unilever Ltd., the Indian unit of Unilever Plc, missed analyst estimates for quarterly profit, hurt by rising raw material prices and a deadly second virus wave that crimped consumption demand.”, “While Hindustan Unilever “has taken calibrated price hikes to mitigate some part of the inflation,” it has also absorbed part of it to retain sales volumes in a weak demand environment.”
Unilever sees toughest inflation since 2008 financial crisis. According to today’s article on Bloomberg Quint, “More expensive crude oil, palm oil and U.S. freight costs are forcing the U.K. consumer-goods maker to raise prices on shampoo and ice cream, though the company has to move slowly to avoid shocking shoppers, Unilever Chief Financial Officer Graeme Pitkethly said.”, “This is something that a business like Unilever is able to handle, but it takes time,” Pitkethly said by phone.”
Unilever shares fall on warning over rising costs. According to today’s article on MarketWatch, “Shares in Unilever PLC fell Thursday after the company reported a slight fall in pretax profit for the first half of the year, and said it expects full-year margins to remain flat as a result of rising costs.”
Unilever gives a preview of worsening inflation pinch. According to today’s article on The Wall Street Journal, “Inflation is becoming as much a headache for CEOs of household-staples companies like Unilever as for shoppers. “, “For Unilever and its main European peer Nestlé, costs of goods sold amount to around half of revenue. ”
More news about Unilever (UL).