Unilever Shifts To London

Contrary to yesterday's gleeful headlines in certain sections of the media, Unilever is not leaving London for the Netherlands, but the other way around.

Unilever is to abandon its dual Anglo-Dutch corporate structure in favour of a single company in London, reversing attempts two years ago to combine its two arms in the Netherlands. The maker of Marmite, Dove soap and Ben & Jerry’s ice cream said on Thursday it would merge its Dutch entity into its UK arm, Unilever plc, later this year if the move is approved by shareholders.

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Unilever Flat

Unilever PLC reported flat sales growth for the first quarter as the maker of Dove soap and Ben & Jerry’s ice cream said the hit from Covid-19 lockdowns in big emerging markets such as China and India outweighed stockpiling by consumers in the USA.

As such it pulled its full-year forecast, saying it could not “reliably assess the impact” of the coronavirus pandemic on its business, but said it would pay its quarterly interim dividend as planned.


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Unilver Falls 7%

Unsurprisingly, since the withdrawal of the Kraft Heinz takeover bid, shares in Unilever are down by 7% in opening trade in London.