Corporate Results | |
Corporate Results | |
1628 VIEWS | |
![]() |
Tuesday, March 31, 2020 / 12:18 PM / By NSE / Header Image Credit: Unilever-ewa
Unilever Nigeria Plc released its 2019 Audited results for
the period ended December 31st, 2019.
Key Highlights
Visit Unilever Nigeria Plc IR Page in Proshare MARKETS
2019 Audited Report: Unilever Nigeria records N60.5billion Revenue ...restates commitment to achieve competitive growth in 2020
Unilever Nigeria has released its audited financial
statements for the year ended 31 December 2019. The Company recorded Turnover
of N60.5 billion in the year under review. This represents a decline
compared to N92.89bn recorded for the corresponding year, 2018.
The results show the company also recorded a loss
after tax of N7.42bn for the year ended 31 December 2019 relative to profit
after tax of N10.55bn recorded for the comparative year 31 December 2018.
These results reflect challenging operating conditions
but also the company's decision to tighten credit terms to address exposure
from trade receivables and excess stock in trade in order to better position
the company for innovation and a return to competitive growth. As a
result, the Company is also better placed to adjust to the prevailing operating
circumstances now emerging in 2020. The Corporate Affairs Director, 'Soromidayo George stated that given this current uncertainty, the organisation
will continue to monitor the business environment as well as focus on its
strategy to deliver sustainable growth both in the medium and long term.
The Corporate Affairs Director noted that the business
acknowledged that 2019 was a challenging year for everyone, but also that there
were measures taken to adjust those challenges. She reaffirmed Unilever
Nigeria's commitment to support efforts to tackle the Coronavirus threat while
keeping their eyes on the fundamentals of the business, supporting its brands,
ensuring the integrity of the route-to-market model, and putting consumers and
their needs at the heart of everything we do.
In her statement she, also, said that they were
confident of the prospects of the company, based on the legacy of growth and
strong Unilever brands which have over the years satisfied consumers' needs,
and will continue to do so innovatively.
Related News
1. UNILEVER Appoints Mr. Carl Raymond As Managing Director
2. UNILEVER Notifies of Closed Period
3. UNILEVER Announces the Resignation of Mr. Yaw Nsarkoh As Director
4. Unilever Nigeria Q3 2019 Results Review: Outlook Dimmed By Change In Operating Model
5. UNILEVER Declares N541m PAT in Q3 2019 Results,(SP:N26.70k)
6. UNILEVER Notifies of Its Board Meeting Resolutions
7. Unilever Nigeria Notifies of Q3 2019 Closed Period
8. Nestle And Unilever - Competition Gradually Blighting The Food Business
9. Unilever Nigeria's PAT Run Rate Improves In Q2 2019 Over Q1
10. UNILEVER Declares N3.52bn PAT in Q2 2019 Results,(SP:N32.00k)
Related News
1.
UNILEVER
Notifies of Board Meeting Resolutions
2.
UNILEVER
Notifies of Closed Period
3.
NCM2020 (19) -
Consumer Goods Sector - NESTLE Tops on PAT Margin As UNILEVER Tops on PE Ratio
4.
UNILEVER
declares N4.2bn Loss in 2019 Unaudited Result
5.
UNILEVER
Appoints Mr. Carl Raymond As Managing Director
6.
UNILEVER
Notifies of Closed Period
7.
UNILEVER
Announces the Resignation of Mr. Yaw Nsarkoh As Director
8.
Unilever Nigeria
Q3 2019 Results Review: Outlook Dimmed By Change In Operating Model