HUL’s Strong Performance In 2018 Drives Unilever’s Volume Growth
High volume growth in India last year helped Unilever Plc. to report 2.1 percent volume globally, the FMCG major told investors in a post-earnings call.
“Full year volume delivery is ahead of the market, which we're pleased about…This was led by India which posted double-digit growth every single quarter,” the management of Unilever told investors.
The London-headquartered company also said market developments enabled it to grow across all divisions in India. Unilever also said that it's building scale in its food portfolio in emerging markets through its acquisition of Horlicks and Boost in India and other markets.
While tea sales registered modest growth, Unilever said its performance in emerging markets was driven by sales of Brooke Bond tea brand in India, the company said in a note announcing its October-December quarter and full-year performance.
The Competition Commission of India has also approved the merger of HUL with GlaxoSmithKline Consumer Healthcare and the management of HUL said after announced its October-December results that it expects the merger to be completed in the next six to nine months.