Business

Unilever Ghana records GHS141 million loss in 2019

1 Mins read

Fast moving consumer goods firm, Unilever Ghana registered a huge loss of GHS141 million last year.

This is against a profit of GHS59 million in 2018.

As a result of the loss, its basic earnings per share for 2019 was a loss of GHS2.26 per share as against GHS3.05 gain in 2018.

Operating loss margin was 51.7% as against a profit of 69.7% in 2018.

According to its unaudited 2019 financial statement, revenue for 2019 was GHS339.8 million, compared with GHS632 million in 2018.

The results the company said reflected challenging trading conditions as well as the prioritisation of inventory reduction in its distribution network as highlighted in September 2019.

However, despite the loss, management remains optimistic about the outlook.

“Management retains positive outlook for the business in the long term”, an extract revealed.

Over the years, Unilever Ghana has been complaining of unfair trade practices including inferior and unbridled goods on the Ghanaian market.

It is unclear whether Unilever Group will follow suit the action they took by dissolving the Nigerian management of the Ghanaian subsidiary.

Unilever is presently selling at GHS16.40 per share on the Ghana Stock Exchange.

Related posts
Banking and FinanceBusinessMatters Arising

Prioritise Liquidity To Survive Challenges

1 Mins read
Prioritise Liquidity To Survive Challenges – Absa Bank Tells SMEs Absa Bank has implored small and medium-scale enterprises (SMEs) to adjust their…
BusinessEconomyfinanceMarkets

Pricing and competitiveness may be impacted by shifting market factors, according to the Enterprise Bureau

1 Mins read
Pricing and competitiveness may be impacted by shifting market factors, according to the Enterprise Bureau The ongoing changing trends in the economy…
BusinesslocalNews

Registrar of Companies: Identify beneficial owners to increase business transparency in Ghana

2 Mins read
Registrar of Companies: Identify beneficial owners to increase business transparency in Ghana The Registrar of Companies, Jemima Oware, has called on businesses…

Leave a Reply

Your email address will not be published. Required fields are marked *