Unilever Nigeria reports annual loss are revenues plunge 34% to US$155.4m

NIGERIA – Unilever Nigeria has released its audited financial statements for the year ended 31 December 2019, as it declared a turnover of N60.5 billion (US$155.4m) in the year under review. This represents a decline compared to N92.89 billion (US$238.6m) recorded for the corresponding year, 2018. The results show the company also recorded a loss after tax of N7.42 billion (US$19.06m) in 2019 relative to profit after tax of N10.55 billion (US$27.1m) recorded for the comparative year 2018, reflecting challenging operating conditions. During the year, the company further tightened its credit…

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Unilever contributes US$649m towards helping people affected by the Coronavirus

UK – Consumer goods manufacturer, Unilever has announced that it will contribute a total of €600 million (US$649m) through cash flow relief as well as donations to help in the fight against the Coronavirus pandemic. The package includes a €100 million (US$108m) contribution through  donations of soap, sanitiser, bleach and food  to the company’s multiple stakeholders including consumers, communities, customers, suppliers and its workforce. Unilever disclosed that it is making a product donation of soaps and sanitiser of at least €50 million (US$54m)  to the COVID Action Platform of the World…

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Unilever Ghana records 24% drop in 2019 third quarter revenues

GHANA – Consumer goods giant, Unilever Ghana Plc has reported weaker revenue in the third quarter of 2019 compared to same period last year. According to the firm’s financial statements, revenue generated in 2019 quarter three went down to US$60.33 million (GH¢342.8 million) from US$78.91 million (GH¢448.4 million) realized during the same period in 2018. The loss according to Unilever, represented a 24 percent decrease in its revenue compared to that of last year. Attributing the reduction in revenues to weak sales in Ghana, the maker of Key Soap and…

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Unilever commits to reducing its carbon print by eliminating 100,000 tonnes of plastic by 2025

NIGERIA – British-Dutch transnational consumer goods company, Unilever, has said it will eliminate over 100,000 tonnes of plastic packaging by 2025. Unilever, which produces brands including Dove, Ben & Jerry’s, Lipton and Omo  also revrealed that it intended to collect and process more plastic packaging than it sells during the same period. In a statement to newsrooms the company said, “By 2025, Unilever will halve its use of virgin plastic by reducing its absolute use of plastic packaging by more than 100,000 tonnes and accelerating its use of recycled plastic.”…

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Unilever acquires Chemi & Cotex Kenya Limited in its efforts to cement its customer numbers

KENYA – UK headquartered manufacturer–Unilever Overseas Holdings, a transnational consumer goods company, has gotten a major boost in its quest to expand its portfolio in Kenya and the East Africa region. This follows the approval by the Competition Authority of Kenya (CAK) to acquire a majority stake (90%) in a subsidiary of Tanzania’s Chemi and Cotex Industries Limited. The Competition Authority of Kenya (CAK) issued the condition in approving the multinational manufacturing giant’s 90 per cent acquisition of the local beauty products maker. The firm is involved in the distribution…

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