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Nairaland Forum / Nairaland / General / Business / Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites (13389 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 casualobserver: 7:31pm On Jul 24, 2023 |
baralatie:. I stand corrected. Ariel is crap! We never tried Omo because my memories of Omo growing up was it was crap. 1 Like |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by casualobserver: 7:32pm On Jul 24, 2023 |
baralatie:. I stand corrected. Ariel is crap! We never tried Omo because my memories of Omo growing up was it was crap. Bottom line is I was shocked that a Nigerian product was as good as the detergents we used import. 1 Like |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by NinjaMetahuman: 7:34pm On Jul 24, 2023 |
baralatie:90% of famous processed food, are made in Nigeria. 80% of them are produced in Lagos and Ogun to be precise. https://www.dnb.com/business-directory/company-information.other_food_manufacturing.ng.html |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by baralatie(m): 7:37pm On Jul 24, 2023 |
casualobserver:The same thing happened to klin detergent. Ariel detergent pushed it (klin)out of the market at a time (as per import product back then). But trust indians they reinvented the so klin concentrated and omo brought color gaurd. Unfortunately klin introduced color gaurd and increase in detergent volume. But there is a new product in town now but the managers of the product just messed it like kilode |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by baconline(m): 7:39pm On Jul 24, 2023 |
In reality it's about a 90% profit drop when relating to dollars, this company might be in its way out of the country soon |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by baralatie(m): 7:40pm On Jul 24, 2023 |
NinjaMetahuman:Can you name the companies?🙄🙄 I have mentioned up to six on this page plus the indian product so klin? |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by baralatie(m): 7:41pm On Jul 24, 2023 |
baconline:Like pz |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by casualobserver: 7:59pm On Jul 24, 2023 |
baralatie: We currently use klin, I actually went to check the name of the brand before I posted earlier. I don’t understand what you mean by pushed out of market. Is klin made by Indians. Is klin and old product? 1 Like |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by baralatie(m): 8:18pm On Jul 24, 2023 |
casualobserver:Klin is a middle aged product(pld per say). It is an Indian product.it gave omo a big run for money but omo held on with it's jumbo sack back. |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by casualobserver: 8:24pm On Jul 24, 2023 |
baralatie: I see, I thought it was new as I had never heard of it. Anyway I think the issue with Unilever and all these multinational is the FMCG market is crowded, there are new players and it’s a zero sum business. Every time a consumer buys from a competitor, it takes away a sale from you. A consumer only uses one bar of soap to wash or one detergent to wash. Plus brand loyalty is very important in FMCG. Once a consumer moves from one brand to another, they tend to stick with the new brand until they have a problem with it, so not only do you lose that sale you lose future sales. That’s why many manufacturers have different brands in the market e.g Friesland with peak milk , coast, Olympia, three crowns…..all from the same manufacturer…..oh and by the way none of it is real milk. 4 Likes |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by drsmut: 8:29pm On Jul 24, 2023 |
They've been eating Nigeria since before it became Nigeria. Make dem sef follow the people hear am. No profits for anybody. We all die here. |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by 1x2x3: 8:47pm On Jul 24, 2023 |
Only if People know the origin and history of Unilever in Nigeria. Here is who they really are for those of you that aren't inform https://www.google.com/amp/s/www.pulse.ng/news/local/unilever-royal-niger-company-and-how-nigeria-transformed-from-a-business-into-a/15tym8p.amp |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by NinjaMetahuman: 8:52pm On Jul 24, 2023 |
baralatie:I literally sent you link of plenty names. You are still asking. |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by OLOKOESHIN: 9:04pm On Jul 24, 2023 |
Sunnyski:PO that made Anambra best state in Nigeria |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by SalamRushdie: 9:32pm On Jul 24, 2023 |
This is bad , real bad |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by victorVIC1(m): 9:35pm On Jul 24, 2023 |
Sirseedorf: There's a limit to how much these companies can absorb. For a company that has a decline in pre-tax profitability of over 70%. They have to make the difficult decision to retrench inorder to keep the business afloat. Unfortunately, two of my friends in their supply chain unit were affected. 1 Like |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by victorVIC1(m): 9:45pm On Jul 24, 2023 |
NinjaMetahuman: Trust me, this is not competition. I work in the raw material supply chain network of this sector and I can tell you with certainty that their competitors are equally feeling the heat. They are all reducing their forecast cos reality is no longer aligning with projections. The FX is also a major blow cos this has seriously increased their landed cost and these costs can barely be transferred to the end consumers. |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by JOemmy(m): 9:53pm On Jul 24, 2023 |
This is the British company that first came to nigeria and claimed the entire nigerian territory as it's business empire they later sold nigeria and it's people to the British govt for some thausands of pounds unfortunately today's some few evil and corrupt nigerian politicians have adopted that method of selling nigeria amongst themselves. |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by cassyrooy(m): 10:05pm On Jul 24, 2023 |
Brendaniel:This entry is something they won't unfortunately understand. Keep dominating the political space while the economic lever is being controlled by those who doesn't have political sway. You sabotage them through political landscape and they get even with you through the economy. |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by BABAawoo47: 10:20pm On Jul 24, 2023 |
NinjaMetahuman:exactly, if you've worked there you'll understand. Unilever Nigeria is less than 1% of entire Unilever Global. They shutdown russia own with $60bn Nigeria no even enter $250m. So they will never reduce quality for competitiveness like good mama that is just base powder unlike sunlight and omo that will add so many important imported ingredients to put it to standard. Unfortunately the pricing can't be competitive. Detergent has been running at a loss due to this reason for 3yrs, so they shutdown it down 1 Like |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by BABAawoo47: 10:23pm On Jul 24, 2023 |
casualobserver:it powdered milk na, it's real milk. Just that it has been heated to powdered form. Then they import and mix with water here. That's why it's called evaporated. They heat it to purify and preserve the milk. stop saying what you don't know |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by casualobserver: 10:37pm On Jul 24, 2023 |
BABAawoo47: Please go and check. Powdered milk is 29% palm oil and other stuff You are the one saying what you don’t know. I was in this business at some point so I know. If it is not fresh milk, you are really wasting your time and deceiving yourself. The next best is UHT milk although most of the nutrients have been destroyed under UHT but it is milk. Powdered and evaporated milk is really just a waste of time, a lot of chemicals and other stuff go into making powdered or evaporated milk. If you must drink canned milk make sure it is unsweetened full cream and dont make a habit of it. Same way margarine is bad for you, Eat butter instead. 1 Like
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Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by obyno82: 10:40pm On Jul 24, 2023 |
NinjaMetahuman: Name which companies that are doing fine. 2 Likes 1 Share |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by seguno2: 11:32pm On Jul 24, 2023 |
iwaeda: No stress bro. Baba Alagbado has the solution below. Insecurity: Recruit 50 million youths into army, Tinubu urges FG |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by seguno2: 11:37pm On Jul 24, 2023 |
NinjaMetahuman: You can’t sell what you buy, when the disposable income is going down due to inflation, unemployment and increased extreme poverty from APC’s balablu townhall confusion economy that started with Buhari and continues with Tinubu. Buhari not sound in economy, foreign affairs —Obasanjo |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by grandstar(m): 1:04am On Jul 25, 2023 |
004gist: You are again repeating this myth! Don't you people ever listen? You want them to build refineries? What happened to the existing ones? They've been left moribund. What do you think will happen to the new ones? Most importantly, why build refineries? Because you believe it will make locally produced fuel so cheap that there'll be no need for a subsidy. It is a blatant myth. Meles Kyari has already said refining it locally would make little or no change to the price.i have always known this. Even Dangote has repeatedly said he would sell it at the international price. No economist has ever said supported the notion of building refineries first. It is is always the layman on the street demanding for it with rhe belief that it will drastically reduce the price of petrol and other refined oils. It won't. Which bank will lend you $20bn to build refineries in a country where the refined products are subsidized, sold below cost? You want them to lose their money? You think they are the Nigerian government? Nigeria is broke. There's no money to subsidize fuel again. You contradict yourself by showing 96% of the budget revenue would be spent on debt servicing. So where's the $10bn to subsidize petrol will come from? It will be borrowed, adding to the debt! A major component ofNigerias present debt is for oil subsidy. It has to stop. 5 Likes 2 Shares |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by Poske95(m): 1:05am On Jul 25, 2023 |
With this goes jobs and some prosperity for people...... Also, reduced number of good ups Darn Govt. |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by 004gist: 2:05am On Jul 25, 2023 |
grandstar: I don't even understand what u are saying... what's your point here? we should keep importing fuel? that way it will be cheaper? do you know that we are suffering from trade imbalance already ? and a responsible government must seek ways to tackle and correct this trade imbalance by encouraging import substitution industries and Import Substitution Industrialization (ISI) 1) refining our own fuel here means government won't spend billions of dollars importing fuel. naira won't be under pressure. 2)dangote budget 9$ but later spent 18 billion... most of this money was borrowed from Nigerian banks... namely Access Bank; GT Bank; Zenith; UBA; Fidelity and Afriexim Bank etc... browse the Internet n learn things 3) the faster we get our fact right by building new refinery so as to produce our fuel the better will our economy heal. 4) turn around maintenance on the old scrap refinery built over 40 years ago has not yielded anything... those refinery are old.... they are 40 years old plus any one that tells you we don't need new refinery but we should keep importing, mounting pressure on scarce dollars then that person is an enemy of the Naira. am an economist... let me school you a little.... Please study more on economic theory such as Mercantilism and Economic Nationalism. But for now here is why Nigeria must do everything possible to stop the importation of everything : Importance of export to a country Economic Growth:Exports play a crucial role in boosting a country's economic growth. when the list of what we export grows way longer than what we import then true economic prosperity for all Nigerians Foreign Exchange Earnings: Exporting allows a country to earn foreign currency. if we can refine our own oil and surplus could be exported to West African countries, that way we earn more foreign currency Foreign Investment Attraction: Countries with strong export-oriented industries often attract more foreign direct investment (FDI). Enhanced Standard of Living: Export-led growth can lead to an improved standard of living for citizens... today we import everything including toothpicks,fuel which God has blessed us with this has made Nigerians poorer not richer creating jobs improving the overall well-being of its citizens. disadvantage of export to a country Trade Deficit Job Displacement Loss of Domestic Revenue Dependency on Foreign Suppliers Reduced Domestic Investment |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by nosa2ekundayo: 3:54am On Jul 25, 2023 |
NinjaMetahuman: This Unilever people have a very dark story in the creation of Nigeria. .Personally, I strongly believe they were never interested in any business, the so called business they are doing is just a cover up for their main agenda in Nigeria... .simply monitoring their investment=Nigeria |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by smsinnigeria(m): 4:10am On Jul 25, 2023 |
[quote author=EmekaMD post=124631410] Time to buy shares Wrong move! Dividend is paid from the profit. |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by stepaside1: 4:28am On Jul 25, 2023 |
004gist:I'm not sure the other guy said don't build refineries. By all means, we need refineries but not to be built by govt but rather private entities like Dangote has done. Refineries in Nigeria will not translate to substantially lower fuel prices as many people believe but its advantage as you rightly pointed out is that it reduces significantly our use of scarce forex to import products thereby putting pressure on the Naira. Local refineries also generate jobs, guarantees energy security and encourages other industries that benefit from the numerous products from the refinery. Both of you have your points and I believe you can align on some facts while drawing the necessary conclusions. |
Re: Unilever Nigeria Plc Reports 72.95% Decline In Pre-tax Profit As Economy Bites by phemmyfour: 7:50am On Jul 25, 2023 |
DWJOBScom:Blamed PDP for 15 yrs. They are about to complete 15yrs with Tinubu's tenure yet no improvement 1 Like |
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