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Magnum Ice Cream Defies Expectations with Strong Earnings Boost
On Thursday, Magnum Ice Cream reported half-year core earnings above market expectations, driven by strong trading at the start of the key summer season.
Strategic cost reductions following the December spin-off from Unilever drove earnings growth, helping Magnum exceed the analyst consensus of €843 million.
Adjusted earnings rose to €880 million from €853 million a year ago, while sales of Ben and Jerry's grew 9.2% in the second quarter, gaining market share in North America.
CEO Peter ter Kulve said, "Our key summer selling season got off to a strong start," noting Magnum grew in all regions, including the United States as its biggest market.
Analysts expressed skepticism regarding sustained growth guidance as headwinds emerge from GLP-1 weight-loss drugs and the Trump administration's "Make America Healthy Again" campaign in the United States.