UNILEVER Plc turned the tables on Nestle SA in the first quarter, as the UK consumer goods company outperformed its Swiss rival after years of lagging behind.
The Anglo-Dutch maker of Knorr stock cubes and Dove soap said sales jumped more than expected as Chief Executive Officer Hein Schumacher pushed ahead with his turnaround plan and easing inflation encouraged shoppers to buy premium brands again.
The company recorded growth in every region, unlike Swiss rival Nestle, which slumped Thursday after sales growth fell to its lowest level since at least 2020 on weakness in North America.
The downbeat results extend a recent run of poor form for Nestle. The world’s biggest food maker has disappointed investors in the last few quarters, with IT problems affecting its vitamins unit and now tepid demand for its frozen food in the US. – moneyweb.co.za