…the receivable from Unilever Ghana Limited was N202, 528 million for the period ended.
Incomes received by Unilever Plc from its subsidiaries as reported in the Unilever Nigeria Plc unaudited interim report for the twelve months ended 31st December 2023, shows that its operation in Ghana is not robust.
Analysis of the group’s revenue reveals a turnover of N97.4 billion in the period under review.
This represents 51 percent topline growth compared to N64.6 billion turnover recorded in the corresponding period in 2022.
Of this figure, Unilever Asia Private Limited,
Unilever Ghana Limited, and Unilever Cote D’Ivoire, contributed a total of N6.005 billion.
A further breakdowns show that Unilever Cote D’Ivoire delivered N4.9 billion in the period under review, which was slightly above the N3.11bn recorded in the previous year.
Unilever Asia did N1.004 billion compared to the N16.3million in 2022.
However, the receivable from Unilever Ghana Limited was N202, 528 million for the period ended.
Also, in the financial statements submitted to Nigerian Exchange Limited (NGX), Unilever Nigeria says that the factory used for the production of the home care and skin cleansing products has been leased out to a third party for 10 years, with annual rental payments.
The products affected are Omo washing powder, Key soap, Pears baby care goods, Vaseline petroleum jelly, and Lux soap.