PG Tips could be put up for sale as consumers go cold on the cuppa

  • 📰 SkyNews
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 67%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

PG Tips could be sold by its owner Unilever as consumers go cold on traditional black tea ☕

That was slightly better than expected but still the worst quarterly growth since at least 2009 for the group - whose diverse range of brands include Dove soap, Ben & Jerry's ice cream, and Marmite.

The results showed tea saw higher sales in value terms because of price rises but declining volumes due to"subdued" demand for black tea in its biggest markets. Russ Mould, investment director at AJ Bell, said:"It is little wonder that Unilever's tea brands are poised over the rubbish bin after their sluggish showing left a bitter aftertaste in its latest financial results.

"With sales of products like PG Tips and Lipton under pressure in developed markets, suggesting either a move away from the traditional cuppa or less attachment to specific brands in this market, Unilever has been focusing on items such as premium tea and fruit and herbal varieties.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 35. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines