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Nairaland Forum / Nairaland / General / Business / Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites (13396 Views)
Dangote Cement’s Pre-tax Profit Hits ₦166 Billion / Unilever Nigeria Stops Production, Sales Of Omo, Lux / Unilever Nigeria’s Market Exit To Affect OMO, Sunlight, Lux (2) (3) (4)
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Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Curious346: 5:45pm On Jul 24, 2023 |
Asari dokubo |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by MichaelSokoto(m): 5:45pm On Jul 24, 2023 |
hashtagged:Idaaan do give up already! |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by ednut1(m): 5:46pm On Jul 24, 2023 |
After audit it will be offset by exchange gains from their usd balances or assets bought in usd or euros 😅 |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by bolivnnaija: 5:47pm On Jul 24, 2023 |
FOJEM:Is really crazy |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by hashtagged(m): 5:47pm On Jul 24, 2023 |
MichaelSokoto: I would never joke with this. If I believe I would see his glory. |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Flame333: 5:48pm On Jul 24, 2023 |
EmekaMD: You nor fear unemployment self |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by baralatie(m): 5:51pm On Jul 24, 2023 |
EmekaMD:That is if you want to become a majority shareholder in Unilever Nigeria and to basically cut it off as a separate independent company with a ne management. 1 Like |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Eriokanmi: 5:52pm On Jul 24, 2023 |
Sirseedorf:They're not father xmas. Hope you know |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by NinjaMetahuman: 5:52pm On Jul 24, 2023 |
Douglad:Twinkle of an eye? You think this gambling? baralatie: Omo washing powder, Key soap, Royco bouillon, Lipton tea, Blue Band margarine, Pears baby care goods, Vaseline petroleum jelly, Lux soap, and Close Up toothpaste. When was the last time you personally use some of these products? Omo has competition in brands like good mama, sunshine etc. When was the last time you went to market to buy omo? Do you cream with Vaseline when there is Nivea? Is anyone using royco to cook? Close up is not standard anymore, you have oral b, sensodent etc. Simple google will help you out. All Unilever products are not standard household products anymore. Competition means less profit. It's not rocket science. 4 Likes |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by rogerman: 5:56pm On Jul 24, 2023 |
NinjaMetahuman:But all these other brands did not come out last year. Please throw more light 3 Likes |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Sirseedorf(m): 5:56pm On Jul 24, 2023 |
Yes I know, but don't you think it is better to reduce salary of an employee than being sacked sometimes. @Eriokanmi 1 Like |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by integrity16(m): 5:57pm On Jul 24, 2023 |
NewFolm4: What do you mean they opted out of business? Educate me please. 1 Like |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by baralatie(m): 5:59pm On Jul 24, 2023 |
NinjaMetahuman:I still see close up and Lipton,persil Vaseline. And the report has said increased cost of sales due to raw materials and co. It is the same problem that is facing Ariel which are basically manufacturers of international brand products.this is different from imported products from asian destinations which do not have to face local production problem(other than exchange rate and custom tax) As an example,when last did you see zeem or dudu osun in the market 3 Likes |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Tushed: 6:02pm On Jul 24, 2023 |
That is not true. Unilever lost out to competition 1 Like |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by NinjaMetahuman: 6:07pm On Jul 24, 2023 |
rogerman:Unilever didn't suddenly lose their profit. It's an ungoing process. Inflation also added to their problem. People going for cheaper stuffs from competition. For example, 1kg of blue band is around 5k, and you can get same 1kg of golden penny butter for 3500 but less quality. Ofcos people will go for the cheaper butter. This has been happening gradually.. That's why the likes of dangote will do everything to stifle competition. He targets market he can monopolize and continue to dominate the market. That's why he failed woefully with his noodles and ran away from it, but declaring billions of dollars in profit from cement. You think people won't rush any serious cement company currently selling cement for 3k as against dangote own of 6k even if it's less quality? 1 Like |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Eriokanmi: 6:11pm On Jul 24, 2023 |
Sirseedorf:You don't want the company to also fold up naw. There's no emotion in business bro 1 Like |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by NinjaMetahuman: 6:12pm On Jul 24, 2023 |
baralatie:Yeah you see them but are you buying them? In the past, they are standard, you either buy omo, Vaseline or you go for way more expensive product. It's not the case anymore.. Cost of material is not the reason they are losing money, you sell what you buy. Other companies are also buying same raw materials and they are doing fine.. They just couldn't compete with those companies interms of lowering their quality to meet the purchasing power of Nigerians who are dealing with inflations.. 3 Likes |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Sirseedorf(m): 6:17pm On Jul 24, 2023 |
Alright I got you, though am not a business man, but soon am aspiring to be. @Eriokanmi |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Whobedatte(m): 6:21pm On Jul 24, 2023 |
NinjaMetahuman:You are right , however they forgot this is Nigeria , a degenerated third world nation . Doing business with the highest standard and quality control would push them out of business . They should do the Indian and Lebanese way and they would stay afloat , at least a large extent. Hypo for example is an acid , under the best practice anywhere in the world , it is not supposed to be in a sachet , but in a bottle . Hypo nearly pushed Harpic out of business until they realized , though late but better late than never . Now Harpic toilet wash is now sold in sachets , just to compete . Nigeria Ehnnn .. you go wuse by fire by force 1 Like |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Antiurchins: 6:21pm On Jul 24, 2023 |
Insult from youraba muouslems RONU mis+creants don reduce oo them no see fuel charge their itel 22,500 naira phone for whatsapp and Facebook sub only 😆😆😆😆😆 we want to teach Peter Obi lesson 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣 1 Like 1 Share |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by xukwaa: 6:32pm On Jul 24, 2023 |
What about the impact of realized and unrealised foreign exchange losses? That should also be a major factor for companies that import their raw materials and goods from foreign countries. The only option is to increase the price of goods that will be sold in 2023. 1 Like |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by ClearFlair: 6:36pm On Jul 24, 2023 |
APC is a total disaster |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Didi2d(m): 6:38pm On Jul 24, 2023 |
HNICEARTH: 😊😊😊 That photo of that man jogging and and the sentence with it always makes me laugh 1 Like 1 Share |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by NewFolm4(m): 6:40pm On Jul 24, 2023 |
integrity16:They stopped production of home care and skin cleaning consumables like sunlight detergent, Omo detergent, lux etc around April 2023. Now they are crying |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by sonofElElyon: 6:47pm On Jul 24, 2023 |
Sunnyski: So Tinubu who was sworn in in May is responsible for the poor Q2 result of unilever?? 1 Like |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by ceejayluv(m): 6:57pm On Jul 24, 2023 |
Farabale.... |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by NinjaMetahuman: 7:03pm On Jul 24, 2023 |
Whobedatte:hehehehe I can testify to the hypo own I stopped buying harpic cos hypo satchet is just to convenient. Just pour one or 2 satchet and you are good to go unlike harpic big bottle that you will still use twice. |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by lexy2014: 7:18pm On Jul 24, 2023 |
EmekaMD: Which shares be that? |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by casualobserver: 7:19pm On Jul 24, 2023 |
DeTribalisedCit: Unilever is unique. The problem with Unilever is that customers have abandoned most of their products for other products particularly locally made alternatives For instance for years my wife only used Ariel or Persia for the washing machine. I used to complain the clothes sometimes don’t feel like they’ve been washed. It got to a point she ordered boxes of detergents from the auk. Now she discovered Klin because they were doing promo (I don’t work for them and I am not associated with them). For the last few months we have been using Klin. She swears by Klin and even I have noticed the difference. The competition for FMCG is very competitive. Most of their products have very good Nigerian owned alternatives/rivals. Local manufacturers are upping their game and they are not keeping up. Go to any supermarket and see the choices available in traditional Unilever segments. I am not saying there aren’t problems in the Nigerian economy, but Unilever’s problem is their products are not competitive and people are abandoning their products. The Ariel they sell in Nigeria is inferior to the foreign Ariel. You wash and the armpits will still smell. Complacency and entitlement is what is killing Unilever. Many people do not know that Unilever (Royal Niger Company) once owned southern Nigeria (I mean owned as in owned by law), they are the reason Nigeria was colonized, as they eventually sold Nigeria to the British Government. They had their hands in every pie. UAC, Unilever and many others are legacy companies of the Royal Niger company. But for complacency, they should be the biggest company in Nigeria today. 4 Likes |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by baralatie(m): 7:27pm On Jul 24, 2023 |
NinjaMetahuman:Apart from Unilever,Procter and gamble ,pz,cussons ,r&k Which other company that is into FMCG that has its industries in Nigeria |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by drololaaof: 7:27pm On Jul 24, 2023 |
Despite the increase in prices, their products are incomparable in quality,their exit give others to thrive with their substandard product |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by baralatie(m): 7:28pm On Jul 24, 2023 |
casualobserver:Ariel is Procter and gamble not Unilever product 2 Likes |
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