This is after making a profit of GHC59 million in 2018.
ADVERTISEMENT
Unilever Ghana makes loss of GHc141 million in 2019
Fast moving consumer goods firm, Unilever Ghana made a huge loss of GHC141 million in 2019.
Unilever Ghana
Due to the loss recorded in 2019, the company’s basic earnings per share for 2019 was a loss of GHC2.26 per share as against GHC3.05 gain in 2018.
Operating loss margin was 51.7% as against a profit of 69.7% in 2018.
The unaudited 2019 financial statement shows that revenue for 2019 was GHC339.8 million, compared with GHC632 million in 2018.
ADVERTISEMENT
The company said this was due to the challenging trading conditions and the prioritisation of inventory reduction in its distribution network.
Despite the loss recorded, management of Unilever are optimistic about the outlook.
“Management retains positive outlook for the business in the long term”, an extract revealed.
Unilever Ghana has often complained of unfair trade practices in the Ghanaian market. These practices include the production of inferior and unbridled goods on the Ghanaian market.
It is not yet known whether Unilever Group will dissolve its Ghanaian management like it did in Nigeria.
ADVERTISEMENT
Unilever is presently selling at GH¢16.40 per share on the Ghana Stock Exchange
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.com.gh
Recommended articles
How 1 woman became first lady of 2 different countries — she married 2 presidents
How parents, teachers can recognise when a child is being bullied
Ladies! Here are 5 things you shouldn't say to your man during sex
It's illegal to publicly celebrate your birthday in this country
Don't pay new transport fares - GPRTU and GRTCC urge Ghanaians
Reflo’s makes a splash at Madina market with product showcase and community engagement
Akufo-Addo will sign the anti-gay bill if it reaches his desk – Miracles Aboagye
400 acres of cocoa farms at risk due to MIGOP Mining Limited's exploration activities