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Unilever PLC (LSE:ULVR) said it is launching a €1.5 billion share buyback today after reporting better-than-expected growth for the first quarter of the year, driven by volume gains that lifted underlying sales.
The consumer brands group, which includes Cif, Colgate, Hellmann’s and Marmite, reported 3.8% underlying sales growth for the first three months of 2026. Volumes rose 2.9%, while pricing contributed 0.9%. Forecasts had pointed to sales growth of just over 3.6%.
Turnover fell 3.3% to €12.6 billion, reflecting currency headwinds despite positive trading momentum.
For the full year, Unilever expects underlying sales growth at the lower end of its 4% to 6% range, along with at least 2% volume growth.
Alongside the buyback, the company announced a 3% rise in the quarterly dividend.
Chief executive Fernando Fernandez said the company “has started the year well with volume-led growth driven by our Power Brands.”
Growth was broad-based across divisions. Home Care was the strongest performer, delivering 6.1% underlying sales growth. Beauty & Wellbeing, Personal Care and Foods also expanded.
Emerging markets led the performance with 5.7% underlying sales growth, supported by strong demand in India and a recovery in Latin America. Developed markets grew 1.0%.
Unilever’s Power Brands delivered 5.0% underlying sales growth and 4.0% volume growth.
During the quarter, Unilever agreed to combine its Foods business with McCormick & Company, a move intended to reshape the business toward higher-growth categories.
Fernandez said the deal would help create “a global flavour powerhouse,” though the share price reaction suggests some investors were not convinced.
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