Unilever publishes half year unaudited results

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Unilever Ghana Limited has published its 2020 half-year unaudited financial accounts. The company posted a revenue of GH¢204.1million for the period, compared to GH¢314million in the same period last year.

The company explained that even though a decline in revenue was posted for the period compared to the corresponding prior year, the turnover achieved was in line with management’s forecasts.

Unilever Ghana Limited further explains that the decline in turnover during the half-year of 2020 as against results recorded the same period last year (2019) is on account of efforts initiated to refresh its route to market operations across the country, and to stabilise its trade stock in line with the objective of reducing stock within its distribution network in Quarters 3 and 4, 2019.

An operating loss of GH¢13.7million was recorded for quarter-2 of 2020 compared to a profit of GH¢27.2million for the same period in 2019.

The management of Unilever Ghana Limited retains a positive outlook on its performance in the second-half of 2020, in the light of gains recorded from its refreshed route to market and trade stabilisation initiatives.

It is also announced for the information of Unilever Ghana Limited’s shareholders and the public that the company’s 46th Annual General Meeting, scheduled for Friday 24th of July 2020, has been held.

The meeting was held online, in line with Directives announced by the Ghana Stock Exchange in response to current developments on the COVID-19 pandemic.

 

 

FIN

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