THE WHAT? Unilever is said to have doubled its profits and increased its ad spend in Russia despite public declarations of support for Ukraine’s plight, according to a report published by the Moscow Times.
THE DETAILS Unilever Rus more than doubled its net profit in 2022 versus 2021 figures, and spent 10 percent more on advertising, the Moscow Times reports, quoting figures released by Follow the Money.
THE WHY? Unilever told Follow the Money that the rise in profit is a consequence of inflation and the fluctuating value of the ruble but did not address Follow the Money’s claims that it had upped ad spend in the country.