The Nation Newspaper

Tag: Unilever Nigeria Plc

  • Unilever to collaborate with Unilorin on entrepreneurship skills

    Unilever to collaborate with Unilorin on entrepreneurship skills

    Unilever Nigeria Plc. on Tuesday in Ilorin pledged its commitment to complementing the efforts of the University of Ilorin authorities at tutoring undergraduates on entrepreneurship skills.

    Unilever’s Leadership Development Specialist, Mr Ademola Odusanya, stated this when he paid a visit to the Vice-Chancellor of the University, Prof. AbdulGaniyu Ambali.

    Odusanya said that its commitment would enable the students to acquire skills they would need for real-time work life through the Company’s “U-Inspire Programme.

    He said the company would remain committed to promoting the ideals of its founding fathers by ensuring that it empowered young people.

    The specialist said the purpose of the visit was to inform the university authorities how Unilever had been contributing its quota to the success of the Nigerian vision.

    While commending the university authorities, Odusanya said the company would “reach out to young minds, catching them young from school, imparting knowledge in them with the support of the school’s management.”

    Responding, Ambali, who was represented by the Deputy Vice-Chancellor (Academic), Prof Sidikat Ijaiya, described Unilever as a success story for having “remained afloat in spite of all the ups and downs”.

    The VC expressed appreciation to the company for embarking on the initiative, saying: “any organisation that invests in the development of the youth deserves commendation and we are most grateful to Unilever for bringing this to our campus.”

    Ambali bemoaned the unemployment challenge in the country, pointing out that employers of labour were no longer interested in certificates, but in the skills that graduates could bring to bear on their businesses.

  • Unilever Q3 results show growth, resilience

    Unilever Q3 results show growth, resilience

    Unilever Nigeria Plc’s results for the period ended 30th September 2016 shows continued growth and resilience.

    The company recorded a turnover and profit after tax of N49.87 billion and N1.56 billion respectively with improvements across Board against the prior year. Consistent improvements in performance over the last four quarters demonstrates the Company’s continued resilience under tough operating conditions.

    The result shows 16.8% topline growth from N42.69 billion turnover reported for the period ended 30th September, 2015 to N49.87 billion recorded for the period ended 30th September, 2016.

    Cost of sales increased by 26.4% to N35.17 billion for the period ended 30th September 2016 from N27.8 billion recorded in the corresponding period in 2015 while there was 11.7% reduction in marketing and administration expenses from N10.6 billion reported for the period ended 30th September 2015 to N9.3 billion for the corresponding period in 2016. The results include the impact of the devaluation of the Naira.

    Net finance costs reduced by 26% to N1.6 billion for the nine months ended September 30, 2016 compared to N2.1 billion reported for the corresponding period in 2015.  The results show that net finance cost as a function of operating profit improved significantly to 51% (2015: 92%), reflecting improvements in cash management.

    Profit after tax for the period ended 30th September, 2016 increased significantly by 1,011% to N1.5 billion from N141 million reported in the corresponding period in 2015.

    In a statement released by the company on Wednesday, Unilever Nigeria said: ‘The operating environment appeared even more turbulent as trading conditions remained difficult in the third quarter of 2016 amidst rising costs, increase in interest rates, foreign exchange illiquidity and pressure on consumers’ disposable income. However, we have continued to navigate the challenging operating terrain through dynamic planning and optimization of resources.

  • Unilever posts impressive first half year result

    Unilever posts impressive first half year result

    Unilever Nigeria Plc’s has posted a turnover and Profit after Tax of N32.28 billion and N1.094 billion respectively with improvements across board. Consistency in performance over the last two quarters demonstrates the Company’s strong resilience in a challenging operating environment.

    The report, a result for period ended 30th of June 2016 shows 12% growth in turnover from N28.72 billion in H1 2015 to N32.28 billion in H1 2016.

    Cost of sales increased by 16% to N22 billion for the period ended 30th June 2016 from N19 billion recorded in the corresponding period in 2015.

    Net finance costs reduced by 54% to N0.67 billion for the six months ended June 30, 2016 compared to N1.47 billion reported for the corresponding period in 2015.  H1 2016 results show that net finance cost as a function of operating profit improved significantly to 31% (H1 2015: 94%), reflecting sustained improvements in cash management.

    Profit after tax for the full year increased by 1,178% from N86 million in H1 2015 to N1.09 billion in H1 2016.

    Trading conditions remained difficult in the second quarter of 2016 with prevailing tight consumer wallets and rising costs. However, Unilever Nigeria has continued to optimize its planning capabilities and demonstrate resilience in navigating the difficult operating terrain. H1 performance has been delivered in the midst of multiple challenges including foreign exchange devaluation amongst others.

    In a statement released by the company, Unilever Nigeria assured shareholders of continued focus on key business drivers to ensure sustained growth in the company’s operations to improve returns on shareholder investments.

    “Although the challenges in the operating environment are yet to abate, we have continued to see sustained momentum behind recent cost and operating efficiency initiatives taken by Management.  We remain focused on driving cost & operating efficiencies, growing market share across key categories and reinvesting behind our core brands.”

  • 91 AGM: Unilever declares N189.2 million dividend

    91 AGM: Unilever declares N189.2 million dividend

    Unilever Nigeria Plc has declared a dividend payout of 5 kobo per ordinary share to the shareholders, amidst a challenging operating year. This is after the company declared a dividend of N189.2 million following the approval of the company’s shareholders at the 91st Annual General Meeting (AGM) of the Company held in Lagos on Thursday, 12th May.

    According to the company  in the year ended 2015 report, it increased revenue by 6.2 percent from N55.7 billion recorded in 2014 to N59.2 billion as Profit After Tax (PAT) stood at N1.2 billion compared to N2.4 billion recorded in 2014.

    Addressing shareholders at the AGM, the Chairman of the Board of Directors, His Majesty Nnaemeka Achebe, the Obi of Onitsha said that Unilever Nigeria Plc. has once again demonstrated business resilience under very difficult circumstances.

    According to him, “although 2015 was a challenging year for businesses in Nigeria, particularly within the manufacturing sector, Unilever remains committed to delivering returns 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, Achebe 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 a better return on investments. Already, in the first quarter of 2016, the Company has recorded growth in turnover and bottom-line. It has recorded a 12.5 percent increase in turnover to the tune of N16.8 billion in the first quarter of 2016. Profit After Tax (PAT) has grown by 76 per cent to N1.04 billion for the first quarter ended March 31, 2016 compared to the N590 billion recorded in the corresponding period of 2015.

    “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 the board,” the Obi observed.

    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 concluded.

  • Unilever quarter 1 results show impressive performance

    Unilever quarter 1 results show impressive performance

    Unilever Nigeria Plc has expressed pleasure over the results for its quarter ending 31st March 2016, which showed impressive growth.

    The company posted a Turnover and Profit after Tax of N16.78 billion and N1.04 billion, respectively with improvements across board. Consistency in performance over the last two quarters demonstrates strong resilience and resolution to win despite the various economic challenges in the operating environment.

    The result shows 12.5% grow thin Turnover from N14.9 billion in Q1 2015 to N16.78 billion in Q1 2016.

    Cost of sales increased by 9.1% to N10.7 billion for the period ended March 2016 from N9.8 billion recorded in the corresponding period in 2015.

    Net finance cost reduced by 35% to N488 million for the three months ended March 31, 2016 compared to N757 million reported for the corresponding period in 2015.Q1 2016 results show that net finance cost as a function of operating profit improved significantly to 26% (Q1 2015: 47%), reflecting sustained improvements in cash management.

    Profit after tax for the full year increased significantly by 76% from N590 million in Q1 2015 to N1.04 billion in Q12016.

    Trading conditions remained difficult in the first quarter of 2016. However, Unilever Nigeria continued to demonstrate resilience in navigating the difficult terrain and operating environment.

    In a statement released by the company, Unilever Nigeria assured stakeholders of continued focus on key business drivers to ensure sustained growth in the company’s operations to improve returns on investments.

    “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”.

    Management is equally addressing the issue of finance costs through a number of initiatives and efforts are on-going to sustain the improvements coming through in Q1.

  • Unilever reaffirm commitment to sustainable business in Nigeria

    Unilever reaffirm commitment to sustainable business in Nigeria

    The Managing Director, Unilever Nigeria Plc, Mr. Yaw Nsarkoh, has said that the company will continue to step up its capital investment in the country by enhancing its local manufacturing capacity.

    Nwarkoh made this known on Wednesday when he led the Management team of the multinational company on a courtesy visit to the Executive Governor of Ogun state, Senator Ibikunle Amosun, at the governor’s office, Oke Mosan in Abeokuta.

    According to him, the company which has been operating in the state since the 80s, has concluded plans to expand its business base in the country, albeit the prevailing economic challenges.

    He noted that the company is a proudly Nigerian business which has been in the country for over 90 years, and intends to stay for even longer.

    His words: “Ogun State is strategic to our business operations. We have been here for a long time and we hope to continue to do business here, add value to the community, to the people and the state at large. We believe in the survival of the community, because the community would drive the survival of any business.

    “As a company, we are committed to the growth and development of Nigeria and we will continue to do our best to support the various initiatives of government, while stepping up our capital investment in Nigeria.”

    In his response, Governor Amosun, commended the company for their interest in the state, and promised that government would provide all the necessary assistance to the company in their expansion plan, adding that his administration is committed to creating the required conducive environment for businesses to thrive.

    He said, “The state has classified Unilever Nigeria as one of our stakeholders, one of the companies we will continue to encourage.

    “We will continue to partner with companies that adhere to best practices. We thank you for creating employment opportunities for our people; we look forward to having you as one of our partners during the forthcoming economic summit.”

  • Unilever PAT run rate improves significantly

    Unilever Nigeria Plc has released its results for the year ended 31st December 2015 with turnover and Profit after Tax of N59.2 billion and N1.19billion respectively.

    The Company recorded a considerable leap in PAT from its Q3 2015 position of N141million to close the year with PAT of N1.19billion.

    The result shows 6.2% growth in turnover from N55.7 billion for the year ended December 2014 to N59.2 billion for the year ended December 2015.

    According to a statement issued by the company, Q4 results for the company show extraordinary recovery across major indices. Stand-alone results for Q4 reflect turnover growth of 36.3% in Q4 2015 (Q4 2014: N12.12 billion, Q4 2015:N16.52 billion)

    Profit after tax for the full year dipped by 51% from N2.4 billion in 2014 to N1.19 billion in 2015. However, Q4 2015 standalone results show an increase of 78.3% in PAT (Q4 2014: N590 million, Q4 2015:N1.05 billion)

    Similarly, cost of sales increased by 7.2% to N38 billion for the year ended December 2015 from N36 billion recorded in the corresponding period in 2014.

    Net finance cost increased by 64.7%% from N1.74 billion for the year ended December 2014 to N2.87 billion for the year ended December 2015. Q4 results however show that net finance cost as a function of operating profit improved significantly to 31% (Q4 2014: 66%)

    The statement further observed that although trading conditions remained difficult through the year, however, Unilever Nigeria continued to demonstrate resilience in tackling the growing drop in consumer’s purchasing pattern amidst other extraneous factors.

    It also noted that Unilever Nigeria assured shareholders of continued efforts to ensure a sustained and steady growth in the company’s operations to achieve better returns on their investments.

    “Although the operating environment remains challenging, we have continued to see momentum behind process improvements, costs and operational efficiencies.  We will continue to focus on driving cost efficiencies, increasing market share across key categories and reinvesting behind our core brands,” it said.

    Management is equally addressing the issue of significant finance cost through a number of initiatives. We are beginning to see traction on this particularly from Q4 2015.