Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites - Business

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Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites - Business - Nairaland

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Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by DeTribalisedCit: 5:14pm On Jul 24, 2023

Unilever Nigeria Plc has released its 2023 Q2 unaudited results showing pre-tax profits fell 72.95% to N169.9 million.

The company reported an operating loss of N3.2 billion in the quarter under review as costs escalated beyond revenues.

The result is on the back of a 22.79% increase in the inflation rate in June 2023 as businesses and their consumers have had to deal with the rising cost of goods and services.

Unilever recorded losses of N3.28 billion due to rising costs of sales as the company restructured costs are raw and packaging materials written off due to the stoppage of production in the home care category and associated redundancy costs.

Cost of sales increased to N27.11 billion from N16.22 billion recorded in the same period last year.

Gross profit declined to N2.49 billion from N7.03 billion reported last year.

Pre-tax profit for the quarter declined by 72.95% to N169.94 million from N628.28 million in Q2 2022.

https://nairametrics.com/2023/07/24/breaking-unilever-nigeria-plc-reports-72-95-decline-in-pre-tax-profit-as-economy-bites/

5 Likes 1 Share

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Brendaniel: 5:35pm On Jul 24, 2023

You see bad governance, it affects everyone, even Dangote will feel it, he might get richer, no doubt, but he will feel the presence of bad governance in the environment, social life and so on, some people think tribal dominance is more important than good governance..

Like I have been telling them here, their eye will clear....

EmekaMD:
Time to buy shares

Oga it is very risky, I grew up seeing companies, especially in the manufacturing sector closing up, from Dunlop to textile and many others I can't even remember now as a result of bad governance over the years, some of those companies are presently doing well in Ghana today....

105 Likes 8 Shares

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Sunnyski: 5:35pm On Jul 24, 2023

This is just the beginning unless PO is made president.

54 Likes 5 Shares

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by EmekaMD(m): 5:36pm On Jul 24, 2023

Time to buy shares

7 Likes 1 Share

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Hallams(m): 5:36pm On Jul 24, 2023

This is crazy

5 Likes 2 Shares

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by iwaeda: 5:36pm On Jul 24, 2023

DeTribalisedCit:

https://nairametrics.com/2023/07/24/breaking-unilever-nigeria-plc-reports-72-95-decline-in-pre-tax-profit-as-economy-bites/

APC grounded everything. Reason for high rate of unemployment. Cost of production, unrealistically exorbitant grin

43 Likes 5 Shares

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by 004gist: 5:36pm On Jul 24, 2023

APC brought a problem and now say we should endure why they solve the problem.

Buhari came and borrowed money from left, right and center. @ 2015 external debt was 7 billion dollars and by 2022 it hit 40 billion dollars now they are using 96% revenue to service debt

had it been they used just 20 billion from the loan to build refinery we won't be facing this crisis rather they used it for unproductive venture like building railways to Niger Republic which cost 2 billion dollars, search for oil in North East which cost 2.5 billion dollars plus other stupid spending

47 Likes 5 Shares

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Dollarchap(m): 5:37pm On Jul 24, 2023

[size=14pt]As a business owner, do you know that you need to file your annual returns every year? It doesn't matter whether you have started business or not. Once your business is registered with CAC, you need to file annual returns after the expiration of 18 months after registration.
Failure to file attracts penalty. Also your business name becomes inactive on CAC portal. Also, if it's inactive for a long time, CAC may delist your business name or company from their register. This means that the business no longer exists. Any interested person can then register the same name.
If you want to file your annual returns so that your business becomes active, you can message me.[/size]

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by DWJOBScom(m): 5:37pm On Jul 24, 2023

APC still selling shit to the country

13 Likes 3 Shares

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Julius1995(m): 5:37pm On Jul 24, 2023

Crazy

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Douglad: 5:37pm On Jul 24, 2023

Tinibunomics

Jagaban the erudite economist.

Harvard, Yale, Stanford and Oxford trained.

32 Likes 2 Shares

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by hashtagged(m): 5:37pm On Jul 24, 2023

I will be ok, Jesus would take care of it.

Don't fear those who can only kill the body rather fear those who can kill both body and soul in hell.

8 Likes

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by NewFolm4(m): 5:37pm On Jul 24, 2023

Do they expect miracle to happen when they opted out of business voluntarily. Awon werey

3 Likes

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by chrisifeanyi: 5:37pm On Jul 24, 2023

Useless country voting by ethnicity. Una never see anything. I've lost hope here.

20 Likes 2 Shares

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Shattuck(m): 5:37pm On Jul 24, 2023

Tinubunomics
On your mandate
It will favour me and my family 😂😂😂😂

6 Likes 2 Shares

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by emorse(m): 5:37pm On Jul 24, 2023

Patience

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by gloryman91: 5:37pm On Jul 24, 2023

Economists over to you now, explain better.

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by LadyRosa(f): 5:37pm On Jul 24, 2023

Don't worry, Tinubu's deflated,wrinkled manh**d will favour agbadorians and their family.

15 Likes 2 Shares

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Julius1995(m): 5:38pm On Jul 24, 2023

Julius1995:
Crazy. Election have consequences. We are reaping our choices of leadership here.

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by yesloaded: 5:38pm On Jul 24, 2023

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Nobody: 5:39pm On Jul 24, 2023

Na lie!
This condition no dey affect big people or big companies!!!

Ronu oooo!!!
Lele lele lele!!!!
Baby, oya Ronu oooo!!!!!!
La lala lala!!!!!

5 Likes

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by NinjaMetahuman: 5:39pm On Jul 24, 2023

Competition dealing with Unilever.

So many of their products have serious competition, so it it expected.

They are not dominating the market anymore.

6 Likes 2 Shares

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Sirseedorf(m): 5:39pm On Jul 24, 2023

Make them no sack any worker o, that is my fear.

May God and our sense see us through.

3 Likes

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by sukkot: 5:39pm On Jul 24, 2023

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by mbahdi(m): 5:39pm On Jul 24, 2023

They are all useless

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by DropsMic(m): 5:39pm On Jul 24, 2023

This news will favor my family ijn

6 Likes

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by jaybenugo: 5:40pm On Jul 24, 2023

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by baralatie(m): 5:41pm On Jul 24, 2023

NinjaMetahuman:
Competition dealing with Unilever.

So many of their products have serious competition, so it it expected.

They are not dominating the market anymore.

Which competition?

10 Likes

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Douglad: 5:41pm On Jul 24, 2023

NinjaMetahuman:
Competition dealing with Unilever.

So many of their products have serious competition, so it it expected.

They are not dominating the market anymore.

Tell me the competition that instantly destroyed 3/4 of their profits in the twink of an eye.

11 Likes

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by HNICEARTH: 5:42pm On Jul 24, 2023

Tinubonomics. Jagaban the master strategist. The only first class accountant.

This Unilever 72.9% decline in pre-tax profit shall favor me and my family.

18 Likes 2 Shares

Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by jaxxy(m): 5:44pm On Jul 24, 2023

bad economy bt that's not exactly news undecided

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