Unilever rules out any major acquisitions this year after failed £50bn GlaxoSmithKline deal
Unilever said this morning the consumer giant saw a 4.5 per cent jump in sales for the past year as it was boosted by higher prices.
The company, which makes products ranging from Marmite to Ben & Jerrys ice cream, said this was its fastest growth in nine years, driven by a 2.9 per cent increase in prices.
The group also confirmed that it plans to not pursue any further major acquisitions in the near future after its failed £50bn move to buy GlaxoSmithKline’s consumer business.
Unilever chief executive Alan Jope said: “We are focused on driving faster growth from our strong portfolio of brands and markets, and recently announced a major change to create a simpler, more category-focused organisation designed to further improve performance.”
He added that “in 2022, we will manage a significant input-cost inflation cycle and will continue to invest competitively in marketing, research and development and capital expenditure.”
“We have engaged extensively with our shareholders in recent weeks and received a strong message that the evolution of our portfolio needs to be measured.
“We therefore do not intend to pursue major acquisitions in the foreseeable future and will conduct a share buyback programme of up to £2.5bn over the next two years.”