By Sabyasachi Samajdar, FoodBizDaily.com Bureau Chief – New Delhi
July 9, 2009 – Hindustan Unilever Limited (HUL), leading food and beverages company in India, has said that the company has achieved an unusual growth in the current year.
Foods business of HUL grew by 13% with Beverages at 13% and Ice-Creams at 22% leading growth. Robust plans drove growth in Tea with all brands growing well. Processed Foods grew 7%, led by Jams, and Ice-Cream delivered a strong volume growth.
Addressing shareholders at the company’s 76th Annual General Meeting Mr Harish Manwani, Chairman, Hindustan Unilever Limited, said that the Company is taking to use the current economic crisis as an opportunity to win amid the turbulence through a unique paradox in strategy, which Mr. Manwani referred to as ‘business as usual on growth, business unusual on costs.’
Speaking about the company strategy, he said that crisis and opportunity are two sides of the same coin. He elaborated saying, “This inspires us to push for business as usual on growth – straddling the pyramid, delivering superior value and functionality while pushing the boundaries of our understanding and responding to consumer and shopper behavior”.
“Bru (the coffee brand of HUL) delivers a far more delightful consumer experience through packaging that retains the aroma of coffee for a longer time,” said Mr Manwani.
He observed that in India there were simultaneous movements of some consumers up-trading and increasing consumption while others were cutting back consumption or indeed down-trading as a response to the economic uncertainty.
Mr Manwani reiterated the need for companies to address the volatility of these turbulent times. “A responsible business must ensure that while it continues to invest in growth, it is simultaneously reshaping the cost structure for the worst-case scenario that is 'business unusual on costs,'” he said.
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Hindustan Unilever Limited
Address: Hindustan Unilever House, Mumbai – 400020, Maharashtra, India.
Telephone: +91-22-39830000
Fax: +91-22-22871970
About Hindustan Unilever Limited
Hindustan Unilever Limited (HUL) is India's largest Fast Moving Consumer Goods Company touching the lives of two out of three Indians. HUL’s mission is to “add vitality to life” through its presence in over 20 distinct categories in Home & Personal Care Products and Foods & Beverages. The company meets everyday needs for nutrition, hygiene, and personal care, with brands that help people feel good, look good and get more out of life.