Unilever Nigeria Plc has reported 20.83% decline in its turnover for the period ended March 31st, 2019. According to its reports released to the market on the 18th of April, 2019 revenue for the period under review stood at N19.235 billion after it dropped from the previous N24.297 billion recorded last same period in Q1 2018
The company ended the period with N1.520 billion profit after tax to close 47.55% lower than N2.899 million recorded in 2018
Shareholders’ earnings per share dropped also by 47% from 50 kobo to 26 kobo in the current period of Q1’19
Manufacturing and Marketing of Consumer Products PE Ratio is however relatively high at 128x with just about 0.78% earnings yield for an equity price of N34.00.
Unilever Nigeria Plc, was incorporated as Lever Brothers (West Africa) Ltd on the 11th of April, 1923 but the company actually started with the founder’s trading interests in Nigeria and West Africa since the 19th century. Unilever Nigeria Plc started as a soap manufacturing company, and is today one of the oldest surviving manufacturing organizations in Nigeria.
After series of mergers/acquisitions, the company diversified into manufacturing and marketing of foods, non-soapy detergents and personal care products. These mergers/acquisitions brought in Lipton Nigeria Ltd in 1985, Cheesebrough Ponds Industries Ltd in 1988. The company changed its name to Unilever Nigeria Plc in 2001.
Unilever Nigeria Plc is a public liability company quoted on the Nigerian Stock Exchange since 1973 with Nigerians currently having 49% of equity holdings.
Unilever’s products covers Food Brands such as Blue Band, Knorr, Lipton, Royco, Personal Care Brands like Close up, Lifebuoy, Lux, Vaseline and Home Care Brands like Omo, Sunlight.