Unilever Nigeria Assures Shareholders of Improved Performance

The Managing Director of Unilever Nigeria Plc, Mr. Yaw Nsarkoh has assured shareholders of the company’s efforts to ensure a sustained and steady growth in its operations in order to achieve better returns on their investments.

According to him, the company will continue to invest in its brands, increase market share and emphasise operational efficiency. Nsarkoh stated this while commenting on the financial results of Unilever Nigeria Plc for the half year (H1) ended June 30, 2019.

The company posted a revenue of N23.421 billion in 2019, compared with N23.829 billion, selling and distribution expenses rose from N993 million to N1.048 billion, while marketing and administrative expenses were reduced from N4.722 billion to N3.878 billion. However, finance cost jumped from N77 million to N263 million, making the company to close the H1 with a profit after tax of N1.994 billion, down from N2.819 billion in 2018.

Commenting on the performance, Nsarkoh said although Unilever Nigeria continued to operate in a tough environment, they were now beginning to see momentum behind enhanced costs and operational efficiencies.

“Unilever Nigeria remains focused on its short- and longterm growth ambitions with clear emphasis on cost and operational efficiencies, increasing market share across key categories, reinvesting behind our iconic brands and improved route-to-market,” he stated.

According to him, “these strategic initiatives rest on our global best practices, strong heritage as well as the professionalism of our people.”

An analysis of the company’s performance quarter on quarter, showed that Unilever posted a growth of 18 per cent in its turnover from N19.2 billion in first quarter (Q1) of 2019 to N23.4 billion in second quarter (Q2) in 2019.