Unilever Ghana publishes half year unaudited results

Unilever Ghana Limited has published its 2020 half year unaudited financial accounts.

The company posted a revenue of GH¢ 204.1 million for the period, compared to GH¢314.0 million in the same period last year. The company explained that even though a decline in revenue was posted for the period compared to the corresponding prior year period, the turnover achieved was in line with Management’s forecasts.

Unilever Ghana Limited further explains that the decline in turnover during the half year of 2020 as against results recorded the same period last year (2019) is on account of efforts initiated to refresh its route to market operations
across the country and to stabilize its trade stock in line with the objective of reducing stock within its distribution network in Quarters 3 and 4, 2019.

An operating loss of GH¢ (13.7) million was recorded for quarter 2 of 2020 Compared to a profit of GH¢ 27.2 million for the same period in 2019.

The Management of Unilever Ghana Limited retains a positive outlook on its performance in the second half of the year 2020, in the light of the gains recorded from its refreshed route to market and trade stabilization initiatives.

It is also announced for the information of shareholders of Unilever Ghana Limited and the public that the 46th Annual General Meeting of the company, scheduled for Friday 24 th of July 2020, has been held. The meeting was
held online, in line with Directives announced by the Ghana Stock Exchange, in response to the current development on the COVID-19 pandemic.