Unilever grows N59.2bn revenue amid operating challenges

Unilever Nigeria plc increased its revenue by 6.2 percent to N59.2 billion at the end of the financial year ended December 2015, from N55.7 billion recorded in 2014.

The company’s Profit After Tax (PAT) stood at N1.2 billion compared with N2.4 billion recorded in 2014.

In the first quarter of 2016, the company recorded a 12.5 percent increase in turnover to the tune of N16.8 billion. PAT grew by 76 percent to N1.04 billion for the first quarter ended March 31, 2016, compared with the N590 billion recorded in the corresponding period of 2015.

Consequently, Unilever yesterday declared a dividend of N189.2 million following the approval of the company’s shareholders at the 91st Annual General Meeting of the company held in Lagos.

The dividend declared amid a challenging operating year translates to a dividend payout of 5 kobo per ordinary share to the shareholders. Addressing shareholders at the AGM, chairman of the Board of Directors, Nnaemeka Achebe, the Obi of Onitsha, said Unilever Nigeria had once again demonstrated business resilience under very difficult circumstances. According to the Obi of Onitsha, “although 2015 was a challenging year for businesses in Nigeria, particularly within the manufacturing sector, Unilever remains committed to delivering  NANreturns to its shareholders. Our company’s performance demonstrates our entrenched values of creating a brighter future for stakeholders and for our consumers through brands that make them feel good, look good and get more out of life.”

Speaking further, he said “even in this period of economic downturn, we plan to continue to invest heavily in our factories, people, processes and brands in order to continue to build the needed capabilities to win into the future. As a company, we will continue to appreciate the resilience and unwavering commitment of all our stakeholders; dynamic employees, loyal consumers, dedicated suppliers and other service providers for their unflinching support through these challenging times”.

In line with the company’s priority, Unilever remains committed to ensuring a sustained and steady growth in the company’s operations to achieve better return on investments. Already, in the first quarter of 2016, the company has recorded growth in turnover and bottom-line.

“Although the challenges in the operating environment are yet to ease, we have continued to see momentum behind recent initiatives taken by management. We will continue to focus on driving cost efficiencies, growing market share across key categories and reinvesting behind our brands to ensure we satisfy all our stakeholders across board,” the chairman said.

Unilever is a company that cares about humanity and value the environment, through our business practices, we continually demonstrate deep commitment to delivering products that meet the needs and aspirations of our consumers and align with the global goals of making our planet safe, beautiful and sustainable, he said.