Unilever Struggles to Keep Rising Costs From Spoiling Rebound
- CFO Pitkethly forecasts higher raw material prices this year
- Shares decline as much as 4.4% in London on margin weakness
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Unilever Plc rode out Covid as consumers kept buying staples like shampoo and food seasonings during lockdowns. Now higher costs threaten to tarnish the Tresemme and Knorr brand owner’s exit from the pandemic.
Raw material prices will probably rise more in 2021, Chief Financial Officer Graeme Pitkethly said on a conference call with reporters. The shares fell as much as 4.4%.