Unilever, the corporate behind manufacturers together with Marmite and Dove cleaning soap, will proceed growing costs for customers this 12 months after larger worth tags on detergents, soaps and packaged meals helped the corporate beat gross sales forecasts for 2022.

The London-headquartered firm warned that “underlying worth development would stay excessive” within the first half of the 12 months, and that it anticipated customers to purchase fewer gadgets in consequence.

It comes as the buyer items large – which additionally owns Hellmann’s mayonnaise, Magnum and Ben & Jerry’s ice-cream – tries to recoup its personal rising prices, together with substances for its merchandise, which soared as the results of surging power prices linked to Russia’s invasion of Ukraine.

Unilever mentioned it was more likely to promote extra gadgets as soon as worth rises began to ease, however warned it was “too early to say” whether or not that might lead to constructive development within the quantity of gross sales within the second half of the 12 months. General, it’s anticipating underlying gross sales development of at the least 3%-5% for the total 12 months.

The forecasts come after Unilever reported underlying gross sales development of 9% for 2022, larger than the 8.2% enhance that analysts had anticipated. Unilever mentioned the sturdy efficiency was “pushed by disciplined pricing motion in response to excessive enter price inflation” in the midst of difficult financial circumstances.

It adopted an 11.3% rise within the costs of its items over 2022, although the quantity of gross sales fell 2.1%, suggesting customers have been postpone by the upper costs and purchased fewer items.

The corporate’s residence care division – which incorporates Domestos bleach – was one among its strongest performers, recording a 12.3% rise in gross sales, after worth will increase for cloth cleaners which skilled the most important enhance in enter prices.

Unilever insisted that “it rigorously balanced worth development, quantity and competitiveness” to navigate surging inflation final 12 months. It helped the corporate report 14.5% rise in total turnover to €60bn (£53bn), although annual working revenue solely grew 0.5% to €9.7bn.

The chief govt, Alan Jope, who will depart the corporate in the summertime, mentioned the corporate was making progress in its company turnaround. “There may be extra to do, however the modifications now we have made imply that we begin 2023 with momentum, setting us up properly for delivering one other 12 months of upper development, which stays our first precedence,” he added.