Unilever records N59.2 billion turnover

Unilever Nigeria Plc has posted a turnover and profit after tax (PAT) of N59.2 billion and N1.19 billion respectively for the year ended December 31, 2015.

The profit margin represents a sharp dip of 51 per cent over the N2.4 billion recorded the corresponding period of 2014.Though same didn’t go for turnover, as the company achieved a 62 per cent leap compared to the N55.7 billion figure of the previous year.

A further breakdown of the scorecard showed that the cost of sales increased by 7.2 per cent to N38 billion as against N36 billion gotten a year before.

In the year under review, the firm’s net finance grew by 64.7 per cent from N1.74 billion to N2.87 billion.In a statement, the company, while admitting that trading conditions were though in the outgone year, however, assured shareholders of continued efforts in ensuring a sustained and steady growth in its operations to achieve better returns on 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.

“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,” the statement added.

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