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Marmite owner Unilever is squeezing supermarkets by raising prices.
In a bumper set of results that sent shares close to record levels, the Anglo-Dutch giant said revenues rose 3.1 per cent to £10.7 billion in the first three months of the year.
Prices - Rise - Number - Products - Sign
This was largely due to higher prices rather than an rise in the number of products being sold – a sign that supermarkets and other retailers are being squeezed.
New boss Alan Jope, who replaced Paul Polman in January, warned of price increases for shoppers even as supermarket chains fight for customers.
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He said: 'We don't like passing on price increases to consumers. We like our brands to offer amazing quality and very good value, so our first reflex is to try to cover cost increases.
'The supermarket chains, like us, are not keen to take prices up. Supermarkets run on very slim margins so if we're passing along price increases, ultimately they do end up being reflected to consumers.'
Unilever - UK - Supermarkets - Brands - Magnum
Unilever, which supplies the UK's major supermarkets with brands such as Magnum ice cream, Domestos and PG Tips, saw revenues in Europe up 2.6 per cent, and 7.6 per cent in emerging markets including South-East Asia and Brazil.
Shares rose 2.9 per...
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