British multinational consumer goods company Unilever Plc has warned that costs will rise as much as 2 billion euros ($2.3 billion) by mid 2022 amid soaring inflation.
The firm said that it will take two years for the firm’s profitability levels to rebound to 2021 levels, according to Bloomberg.
This comes as projections indicate that the operating margin will narrow by an estimated 2.4 percentage points in 2022, will partly bounce back in 2023, and fully recover by 2024.
On the back of the news the corporation’s stocks plunged 3.2 percent on Thursday.
