The Nation Newspaper

Tag: Unilever

  • Unilever Nigeria to launch N59b rights issue

    Unilever Nigeria to launch N59b rights issue

    Unilever Nigeria Plc yesterday said it plans to raise about N58.86 billion by selling new ordinary shares to existing shareholders.

    In a regulatory filing at the Nigerian Stock Exchange (NSE), Unilever Nigeria indicated that it plans to float a rights issue of 1.962 billion ordinary shares of 50 kobo each at a price of N30 per share. The rights issue will be pre-allotted to shareholders in the register of the company as at the close of business yesterday on the basis of 14 new ordinary shares for every 27 ordinary shares held.

    Acting Head, Listings Regulation Department, Nigerian Stock Exchange (NSE), Godstime Iwenekhai confirmed that the fast moving consumer goods company has submitted application for the approval of the rights issue to the Exchange.

    Shareholders of Unilever Nigeria had at the annual general meeting in Lagos approved a proposal by the board of the company to raise up to N63 billion in new equity funds by selling new shares to existing shareholders.

    In preparation for the rights issue, shareholders also increased the authorised share capital of the company to N5 billion or 10 billion shares through the creation of additional 3.95 billion ordinary shares of 50 kobo each.

    Unilever Plc, United Kingdom, the majority core investor in Unilever Nigeria, is expected to provide about N35.4 billion in the capital raising. Unilever UK holds 60.06 per cent majority equity stake in Unilever Nigeria through its Unilever Overseas Holdings BV. Stanbic Nominees Nigeria Limited holds the second largest equity stake of 10.43 per cent in Unilever Nigeria.

    Unilever UK has shown sustained interest in increasing its majority shareholding in the Nigerian subsidiary. It mopped up additional shares through open market purchases at the Nigerian Stock Exchange (NSE) to increase its majority stake by 1.53 per cent from 58.53 per cent in 2015 to 60.06 per cent in 2016. It had also made open market purchases in 2015.

    Unilever UK will be required to contribute at least N35.35 billion to the rights issue to retain its current shareholding and the multinational may increase its stake by applying for additional shares from renounced rights.

  • NSE market capitalisation increases further by N76bn

    NSE market capitalisation increases further by N76bn

    The upward trend continued on the Nigerian Stock Exchange  (NSE) on Wednesday for the second consecutive day with the market capitalisation increasing by N76 billion.

    The News Agency of Nigeria  (NAN) reports that the market capitalisation which opened at N10.121 trillion, rose by N76 billion or 0.75 per cent, to close at N10.197 trillion.

    In the same vein, the All-Share Index inched 221.72 points or 0.76 per cent, to close at 29,498.31, compared with the 29,276.59 recorded on Tuesday due to price gains by some blue chips.

    An analysis of the price movement indicated that Dangote Cement led the gainers’ table with a gain of N7.90, to close at N175 per share.

    It was followed by Nestlé with a gain of N5.01 to close at N875.01 and Total  garnered N5 to close at N265 per share.

    Nigerian Breweries advanced by N3.50 to close at N149.50, while Unilever increased by N1.74, to close at N37.49 per share.

    On the other hand, Seplat topped the losers’ chart, dropping by N81.51 to close at N351.99 per share.

    7UP trailed with a loss of N4.98 to close at N94.77 and Guaranty Trust Bank shed N1.78 to close at N34.01 per share.

    Stanbic IBTC lost 75k to close at N26, while Zenith International Bank declined by 55k to close at N18.95 per share.

    NAN reports that the banking equities maintained leadership as the most sought after, with FBN Holdings recording the highest volume, trading 62.19 million shares worth N318.89 million.

    It was followed by Diamond Bank with an exchange of 41.86 million shares valued at N40.38 million and Fidelity Bank traded 38.78 million shares worth  N40.72 million.

    United Bank for Africa exchanged 34.95 million shares valued at N264.76 million, while Zenith International Bank sold 26.57 million shares worth N506.29 million.

    In all, the volume of shares traded dropped by 58.78 per cent, with a turnover of 343.19 million shares valued at N3.34 billion transacted in 4,905 deals.

    This was in contrast with the 832.52 million shares worth N7.59 billion transacted in 6,259 deals on Tuesday.

  • Unilever to sell spreads business in global restructuring

    Unilever to sell spreads business in global restructuring

    Unilever Group, the parent company of Unilever Nigeria Plc, has indicated its intention to divest its spreads business as part of a global restructuring of its businesses.

    Unilever Group said the divestment was part of a strategic review aimed at accelerating sustainable shareholder value creation.

    Unilever Nigeria yesterday confirmed the plan to sell the spreads business but added that the announcement has no immediate effect on the activities of the Nigerian subsidiary. Unilever Nigeria’s share price remained unchanged at N33.15 per share at the Nigerian Stock Exchange (NSE).

    Chairman,   Marjin Dekkers, said the proposed sale of the spreads business and other restructurings were fully supported by the board of directors.

    According to him, the review that the board of directors of the Unilever Group has undertaken has been detailed and comprehensive and it has confirmed that the group’s model of long-term shareholder value creation has been successful and remains as valid as ever.

    Chief executive officer, Unilever, Paul Polman, said the group has decided that the sale of the spreads business would lead to accelerated development of its portfolio.

    “After a long history in Unilever, we have decided that the future of the spreads business now lies outside the Group,” Polman said.

    Nigerian shareholders had largely shunned a N43 billion share-acquisition bid by Unilever Overseas Holdings , United Kingdom aimed at acquiring a quarter of Unilever Nigeria’s shares to increase the multinational’s majority equity stake in the Nigerian subsidiary to 75 per cent.

    Unilever UK’s total shareholdings in Unilever Nigeria only increased by 8.49 per cent from 50.04 per cent to 58.53 per cent after the conclusion of acquisition bid. Besides, Unilever UK had resorted to mopping up the shares of Unilever Nigeria through the Nigerian Stock Exchange (NSE).

  • Unilever marks Oral Health Day with health ministry, dental association

    Unilever marks Oral Health Day with health ministry, dental association

    Unilever, maker of the popular Pepsodent brand of toothpaste, has joined the Federal Ministry of Health and the Nigerian Dental Association in celebrating this year’s World Oral Health Day.

    The event, which took place at the Teslim Balogun Stadium in Lagos, was meant to raise awareness of the importance of brushing the teeth morning and night with a fluoride toothpaste like Pepsodent to avoid dental decay.

    Guests at the occasion included schoolchildren, parents, caregivers and and representatives of Unilever, who all gathered to pledge their commitment to brushing their teeth day and night every day.

    “We know that building good brushing habits in children sets them up for better oral health in the future, which in turn leads to better overall health outcomes,” Global Vice President, Oral Care , Unilever, Severine Vauleon said.

    Pepsodent is on a mission to reach 10 million Nigerian schoolchildren with face-to-face engagement through its school oral health programmes by 2020, teaching when and how best to brush teeth for optimal oral health, today and later in life.

    ”Children are powerful behaviour change advocates in their homes, often driving conversation and action with parents around issues like this.

    “We are confident that kids will love the stories and characters and this will drive their interest and excitement to brush day and night,” Vauleon added.

    This year, Pepsodent and the FDI are celebrating 10 years of partnership. Pepsodent also partners with the Federal Ministry of Health and the Nigerian Dental Association on its oral health school programme.

    The President of the Nigerian Dental Association, Dr. Bode Ijarogbe, said: “We need to empower people to take control of their oral health – throughout life – so they can enjoy a healthy, functional mouth from childhood into old age.

    “Maintaining optimal oral health into old age ensures you live not only a longer life, but also one free from the physical pain and often emotional suffering caused by oral disease.

    “It is wonderful to see so many people from all walks of life coming together today to share the message of brushing day and night on World Oral Health Day.”

    Dr Osagie Ehanire, Minister of State for Health, represented the Minister for Health at the event.

  • Unilever, NDA walk to promote oral hygiene

    Ahead of the 2017 celebration of World Oral Health Day on Monday members of the Nigeria Dental Association (NDA), employees of Unilever Nigeria Plc, dental practitioners, and stakeholders took to the street of Lagos for their annual Oral Health Walk at the weekend.

    The walk is to sensitise Nigerians on the need to brush their teeth twice daily with fluoride toothpaste like Pepsodent.

    The Pepsodent Oral Health Walk which kicked-off from Lagos University Teaching Hospital (LUTH), Idi Araba through to Ojuelegba  is in line with the activities leading up to celebrate this year’s World Oral Health Day Celebration themed “Live Mouth Smart.”

    “The oral health walk is part of Unilever’s vision to help millions of Nigerian families adopt the best oral health practices,” said Ibironke Ugbaja, Oral Care Category Lead, Unilever Nigeria.

    “Since the launch of the Pepsodent Oral Health Schools program in 2014, Unilever Nigeria has so far reached 2.5 million Nigerian children directly in over 3,500 public primary schools with products (toothpaste and toothbrushes) educational materials and a 21-days oral hygiene program, teaching them to imbibe the culture of brushing twice-daily using a fluoride containing toothpaste such as Pepsodent. Our goal is to reach 10 million children by 2020,” she concluded.

    Sensitisation materials, Pepsodent toothpaste and toothbrushes were handed over to commuters and residents within the neighbourhood of the areas covered by the health walk.

    Addressing journalists during the walk, the President, Nigerian Dental Association, Dr. Olabode Ijarogbe said: “The health work is part of efforts to prevent and check the spread of oral diseases.”

    He further emphasised that “it is imperative that Nigerians brush twice a day and the annual health walk is one of the ways we create awareness about oral hygiene and its importance.”

  • Unilever Q3 results show growth

    Unilever Q3 results show growth

    The results of Unilever Nigeria Plc for the year ended 30th September 2016 showed resilient growth.

    The company recorded turnover and profit after tax of N49.87 billion and N1.56 billion respectively, an improvements against the past year.

    The consistent improvements in performance over the last four quarters demonstrate 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 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 showed 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.

     

  • Unilever Q3 results show growth

    Unilever Q3 results show growth

    The results of Unilever Nigeria Plc for the year ended 30th September 2016 showed resilient growth.

    The company recorded turnover and profit after tax of N49.87 billion and N1.56 billion respectively, an improvements against the past year.

    The consistent improvements in performance over the last four quarters demonstrate 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.

  • Unilever is top employer

    Unilever is top employer

    Unilever has been certified as the Top Employer in Africa for the third time in a row. For a company such as Unilever to achieve business success, it is important that its leadership create an environment where employees feel valued, where their creative ideas can germinate and contribute towards the company’s overall achievements.

    Unilever’s Top Employer status in Africa was solidified when the company was certified in Zimbabwe for the first time and achieved No.1 status in Ghana, Nigeria and Kenya. The organisation also added the No. 1 FMCG in South Africa and No. 1 Manufacturing in South Africa certifications to their belt.

    Unilever Vice President, Human Resources, Mechell Chetty, said:  “At Unilever, we work hard to combine our global experience with our deep African roots to develop local talent so we are delighted to see our efforts recognized by the internationally renowned top employers as a truly independent and verifiable measure of industry best practice in HR.”

    The yearly international research and audit undertaken by the Top Employers Institute recognises leading employers around the world that provide excellent employee conditions, nurture and develop talent throughout all levels of the organisation, and which strive to continuously optimise employment practices.

    “Unilever was honoured by the Top Employer research for exceptional employee offerings and as an organisation which puts its people first and is dedicated to their personal and professional development. I would encourage more companies to participate and raise the bar on employment practices across the continent,” said Chetty.

    Regional Director Africa, Top Employers Institute Samantha Crous, said: “Our extensive research concluded that Unilever Africa forms part of a select group of employers that advance employee conditions worldwide. Their people are well taken care of. Now that they have received the Top Employers Africa 2016/17 certification, they can truly consider themselves at the top of an exclusive group of the world’s best employers – a remarkable feat to celebrate”

    According to Chetty, Unilever’s secret to success is the fact that the company consistently aims to empower its employees to be able to make a direct impact on the business. “If you want to be part of a team driving innovation, change and growth at one of the most dynamic and exciting periods in African business, then Unilever is the place to be. This award provides external verification to those looking to join Unilever that we put our people at the heart of our business and their development and contribution will be second to none on the continent of Africa,” says Chetty.

    “One of the macro trends that we see across the world is the move towards mass customisation, where you provide tailored experiences for individuals at a large scale. At Unilever, we are continuously exploring how we can apply this to our employment experience.”

    “Our employees are given significant scope for creativity in their role and we aim to create a culture where our employees can have the freedom to act with speed and deliver on their objectives,” explains Chetty. “We also encourage innovation across the workforce, with different attitudes towards authority by developing strong line managers who are equipped to deal with the challenges of a multi-generational and multi-cultural workforce. These are just some of the practices which help to make our organization ever more agile, resilient and responsive to the unpredictable external environment.”

    Potential Top Employers undergo a rigorous certification process as they are evaluated across nine key areas: Talent Strategy, Workforce Planning, On-boarding, Learning & Development, Performance Management, Leadership Development, Career & Succession Management, Compensation & Benefits, and Culture.

  • UI wins Unilever Ideatrophy contest again

    The University of Ibadan has again clinched the Unilever Ideatrophy competition.

    The trio of Okunade Gbenga, Similoluwa Odetola and Omobola Akionla of Team Adobe humbled teams from five other universities – Federal University of Agriculture Abeokuta (FUNAAB, Team Innovatus); Afe Babalola University Ado-Ekiti (ABUAD, Team Golden); Federal University of Technology Owerri and University of Benin (FUTO/UNIBEN Team Mugambo); Caleb University Lagos (Team Coocliq) – and another UI team, Team Dynamic – at the grand finale held at 10 Degrees Event Centre in Oregun, Lagos last Friday.

    FUNAAB’s Team Innovatus and Caleb’s Team CooCliq emerged first and second runners-up.

    By winning, the Adobe Team returned honour to UI, which won the maiden edition of the contest five years ago.

    For their victory, the UI contingent will represent Nigeria at the Africa round in South Africa, and if successful, progress to the Unilever Global Future Leaders’ League competition next year in the United Kingdom.

    The six teams in the final were tasked to produce creative marketing ideas for Close-up Toothpaste, one of Unilever’s flagship brands. Team Adobe, for instance, was tasked to develop a marketing strategy with the tag: “Make the move”.

    The boot camp for the competition opened in Lagos on Tuesday, August 23, during which contestants were assigned mentors – seasoned business professionals – to guide them in the development and delivery of their presentations.  They also met and interacted with Unilever top executives, and enjoyed fun activities like talent shows, aerobics and games.

    Expressing their excitement, Okunade who led the UI team said: “The Ideatrophy competition has been a life changing experience. We have learnt so much about developing viable strategies for brand positioning and growth. Winning the competition is the crowning glory.”

    Unilever Managing Director Yaw Nsarkoh, and the Chairman on the occasion, Dr. Christopher Kolade, advised the youth to rise beyond their situations to meet global standards.

    Nsarkoh said Unilever was committed to creating a bright future for Nigerians, and touching lives each day through its brands and their social missions.

    Kolade, a former Nigeria’s High Commissioner to the United Kingdom, admonished young Nigerians to take charge of their destinies via creative ideas. He also praised Unilever for grooming talents and providing opportunities for the youth to showcase their abilities.

    Unilever Nigeria’s Human Resources Director Eniola Onimole said the aim of the competition was to develop personal, leadership and entrepreneurial business competencies, among the competitors and showcase innovative and viable business ideas.

    “The Ideatrophy competition gives us the opportunity to develop young Nigerians right from the university. By connecting with undergraduates through this programme, we are able to attract and invest in young talents who could eventually become some of the world’s future leaders,” she said.

    She said the panel reviewed participants’ activities at group and individual levels – explaining why two groups emerged from UI, while another two institutions were lumped into a single group.

  • Unilever Q1 results show impressive performance

    Unilever Q1 results show impressive performance

    Unilever Nigeria Plc’s results for period ended 30th June 2016 shows impressive growth. The company posted a turnover and Profit after Tax of N32.28billion and N1.094billion 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 result shows 12% growth in turnover from N28.72billion in H1 2015 to N32.28billion in H1 2016.

    Cost of sales increased by 16% to N22billion for the period ended 30th June 2016 from N19 billion recorded in the corresponding period in 2015.

    Net finance costs reduced by 54% to N0.67billion for the six months ended June 30, 2016 compared to N1.47billion 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 N86million in H1 2015 to N1.09billion 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 optimise 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 and operating efficiencies, growing market share across key categories and reinvesting behind our core brands.”