Unilever Nigeria Plc a number one client items firm in Nigeria declares in its unaudited annual monetary report that it made a loss amounting to N1.59 billion within the 12 months 2020.
This is in keeping with the data and figures disclosed within the Company’s unaudited monetary assertion revealed by Unilever on the web site of the Nigerian Stock Exchange.
The report revealed that the loss which Unilever made in 2020, was 62.3% decrease than the loss it made within the previous 12 months 2019, as the corporate’s loss after tax declined from N4.22 billion in 2019 to N1.59 billion in 2020.
- Revenue elevated to N61.57 billion, up by 1.34% Y-o-Y.
- Cost of gross sales decreased to N47.79 billion, down by 11.63% Y-o-Y.
- Gross revenue elevated to N13.78 billion, up by 106.52% Y-o-Y.
- Selling and distribution bills decreased to N2.82 billion, down by 10.53% Y-o-Y.
- Marketing and administrative bills decreased to N12.99 billion, down by 1.69% Y-o-Y.
- Impairment loss on commerce receivables elevated to N1.08 billion, up by 49.73% Y-o-Y.
- Other earnings elevated to 66.99 million, up by 2.44% Y-o-Y.
- Operating loss decreased to N3.05 billion, down by 70.54% Y-o-Y.
- Finance earnings decreased to N1.47 billion, down by 48.39% Y-o-Y.
- Finance prices decreased to N223.29 million, down by 72.91% Y-o-Y.
- Loss for the interval decreased to N1.59 billion, down by 62.32% Y-o-Y.
In line with this, the income of the corporate elevated by 1.34%, as income from the gross sales of tea and savoury within the meals merchandise section of the corporate elevated through the interval underneath overview. While gross sales of skincare, oral care merchandise, material care, and family cleansing merchandise declined in 2020.
However, it is very important notice that Impairment loss on commerce receivables, Selling and distribution bills, in addition to Marketing and administrative bills incurred by Unilever, fully eroded Gross Profit of N13.78 billion to the tune of an Operating lack of N3.05 billion.
This went on to influence the profitability of the corporate in 2020, as Unilever reported a lack of N1.59 billion, regardless of doing nicely to maintain finance prices low, and by so doing, reporting a web finance earnings of N1.25 billion.