Unilever reports progress on Compass strategy

Unilever reports progress on Compass strategy

THE WHAT? Unilever contends that its second quarter and first-half results prove that its strategic choices, known collectively as Unilever Compass, are paying dividends.

THE DETAILS The UK-based FMCG manufacturer reported progress against each metric in a statement posted on its website, revealing that its most purposeful brands, Rexona among them, were among those which posted the strongest growth. Meanwhile, Unilever is continuing its mission to evolve its portfolio into high-growth spaces, with the Prestige Beauty and Health & Wellness units reporting double-digit growth (14 percent and 28 percent respectively).

In terms of its goal to accelerate growth in US, India, China and key growth markets, the results were mixed, with China’s strict lockdown hitting sales there despite a solid performance in the US and impressive growth in India. Meanwhile, e-commerce is rapidly becoming a key channel, now accounting for 14 percent of turnover and growing 25 percent this year.

Last, the company’s new Business Groups, part and parcel of its drive to simplify the organisation and improve agility, are now in place and fully responsible for their portfolios.

THE WHY? CEO Alan Jope, commented, “This major change to Unilever’s operating model is an important further step that will underpin the delivery of consistent growth, which remains our first priority.”

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