Business

Unilever raises its prices and profits

Unilever

Last Updated at 18 Oct 2017, 15:13 GMT *Chart shows local time Unilever intraday chart
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Shares in Unilever, the company behind brands such as Marmite, Magnum ice cream, Lux soap and Persil, have risen sharply following the release of better-than-expected results.

Net profit rose to 2.41bn euros ($3.43bn; £2.09bn) for the first half of 2011, up 9% on last year.

Prices rose 3.5% in the first six months of the year while underlying sales grew 5.7%.

Unilever shares closed 2.7% higher having been up more than 6%.

However, Unilever said profit margins were hit by the time-lag between costs rising and price increases coming into effect.

"In a tough and volatile environment we have again delivered strong growth," said Unilever chief executive Paul Polman.

"Volumes were robust and in line with the market, despite having taken price increases."

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