TOP NEWS: Unilever Donates EUR100 Million To Fight Coronavirus

(Alliance News) - Unilever PLC on Tuesday said it will be implementing a wide-ranging set of ...

Alliance News 24 March, 2020 | 11:14AM
Email Form

(Alliance News) - Unilever PLC on Tuesday said it will be implementing a wide-ranging set of measures to support global and national efforts to tackle the coronavirus pandemic.

The FTSE 100-listed consumer goods manufacturer explained that these actions are designed to help protect the lives and livelihoods of its multiple stakeholders.

As part of the plan, Unilever said it will contribute EUR100 million to help the fight against the pandemic through donations of soap, sanitiser, bleach and food. The donations will be made via the Covid Action Platform of the World Economic Forum and through national health authorities.

In addition, the company said it will offer EUR500 million of cash flow relief to support livelihoods across its extended value chain. This includes early payment for the "most vulnerable" small and medium sized suppliers, and extending credit to selected small-scale retail customers whose business relies on Unilever.

"Our strong cash flow and balance sheet mean that we can, and should, give this additional support," said Chief Executive Alan Jope.

Unilever shares were trading 0.9% lower in London on Tuesday at 3,898.00 pence each.

By Evelina Grecenko;

Copyright 2020 Alliance News Limited. All Rights Reserved.

Email Form

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Unilever PLC 4,193.00 GBX -0.52

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

Audience Confirmation

By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites
© Copyright 2020 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies