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    ULVR   GB00B10RZP78

UNILEVER PLC

(ULVR)
  Report
Delayed London Stock Exchange  -  11:35 2022-09-28 am EDT
4065.00 GBX   -0.33%
08:41aUNILEVER PLC : Goldman Sachs reiterates its Neutral rating
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04:06aUnilever : The electric truck accelerating our drive towards zero emissions
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09/27UNILEVER PLC : Jefferies maintains a Buy rating
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Ben & Jerry's says Unilever froze directors' salaries

08/03/2022 | 09:54am EDT
FILE PHOTO: Ben & Jerry's, a brand of Unilever, is seen on display in a store in Manhattan, New York City

NEW YORK (Reuters) - Ben & Jerry's independent board said parent company Unilever Plc, with which it is locked in a dispute over the sale of its Israeli business, had frozen its directors' salaries in July as a pressure tactic ahead of a mediation on the matter.

The Cherry Garcia ice cream maker surpassed $1 billion in sales last year for the first time, becoming one of 13 Unilever brands to achieve such a scale, the board also said.

Ben & Jerry's sued Unilever, which has owned the Burlington, Vermont-based company since 2000, on July 5 to try to stop the sale of its business in Israel to local licensee Avi Zinger.

Ben & Jerry's last year said it no longer wanted to sell its products in the occupied West Bank because it was "inconsistent" with its values, which prompted Unilever to make the sale. The deal with Zinger made the ice cream available to all consumers in Israel and the occupied West Bank.

"This decision for us to go to court is because of Unilever's sale without our input, which is a clear violation of the letter and the spirit of our original acquisition agreement with Unilever," board chairperson Anuradha Mittal said in an interview with Reuters. "If Unilever is willing to so blatantly violate the agreement that has governed the parties' conduct for over two decades, then we believe it won't stop with this issue."

"If left unaddressed, Unilever's actions will undermine our social mission and essential integrity of the brand, which threatens our reputation and ultimately our business as a whole," she added.

Unilever did not immediately respond to a request for comment.

Ben & Jerry's and Unilever last month tried to reach an out-of-court deal on the spat but on Monday notified a federal court they had failed to do so. [L1N2ZD1ZK]

A hearing on Ben & Jerry's request to block the sale is scheduled for Monday, Aug. 8.

The battle has tested how far Unilever is willing to go to give its brands freedom to have social missions.

Unilever has more than 400 brands, including Dove soap, Hellmann's mayonnaise, Knorr soup and Vaseline skin lotion.

(Reporting by Jessica DiNapoli Editing by Bradley Perrett)

By Jessica DiNapoli


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CHERRY AG -2.43% 5.22 Delayed Quote.-78.51%
UNILEVER PLC -0.33% 4065 Delayed Quote.3.37%
All news about UNILEVER PLC
08:41aUNILEVER PLC : Goldman Sachs reiterates its Neutral rating
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09/27UNILEVER PLC : Jefferies maintains a Buy rating
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09/27UNILEVER PLC : RBC reaffirms its Neutral rating
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Analyst Recommendations on UNILEVER PLC
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Financials
Sales 2022 58 645 M 56 552 M 56 552 M
Net income 2022 5 324 M 5 134 M 5 134 M
Net Debt 2022 22 784 M 21 971 M 21 971 M
P/E ratio 2022 21,8x
Yield 2022 3,76%
Capitalization 115 B 111 B 111 B
EV / Sales 2022 2,35x
EV / Sales 2023 2,26x
Nbr of Employees 148 012
Free-Float 95,2%
Chart UNILEVER PLC
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Technical analysis trends UNILEVER PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 45,33 €
Average target price 47,94 €
Spread / Average Target 5,74%
EPS Revisions
Managers and Directors
Alan Jope Chief Executive Officer & Executive Director
Graeme David Pitkethly Chief Financial Officer & Executive Director
Nils Smedegaard Andersen Chairman
Richard Slater Chief Research & Development Officer
Nitin Paranjpe Chief Operating, Transformation & People Officer
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