The company behind many popular consumer brands including Marmite and Magnum ice creams has revealed a surge in profits, as the UK’s competition regulator seeks evidence on whether shoppers are getting a raw deal at the tills.

Unilever, which also includes brands such as Domestos and Hellmann’s in its stable, reported a 20% rise in net profits to €3.9bn (£3.4bn) over the first half of its financial year.

Underlying price growth for the second quarter was 9.4%, while underlying sales volumes fell by 0.2%, the company said.

It reported on its progress just days after the Competition and Markets Authority (CMA) cleared supermarkets of making excessive profits.

But the regulator said last week it had turned its attention to the supply chain instead, which would include companies such as Unilever.

UK business news. ONLYWAY.NEWS