The Chairman of Unilever Nigeria Plc, His Majesty Nnaemeka Achebe, the Obi of Onitsha, has commended the company for demonstrating business resilience under very difficult circumstances.
He gave the commendation at the 91st Annual General Meeting of the company in Lagos, saying that despite challenges, the company was able to pay 5 kobo dividend amounting to N189.2 million.
According to him, “although 2015 was a challenging year for businesses in Nigeria, particularly within the manufacturing sector, Unilever remains committed to delivering returns to its shareholders. Our company’s performance demonstrates our entrenched values of creating a brighter future for stakeholders and for our consumers through brands that make them feel good, look good and get more out of life.”
He said: “Even in this period of economic downturn, we plan to continue to invest heavily in our factories, people, processes and brands in order to continue to build the needed capabilities to win into the future.
“As a company, we will continue to appreciate the resilience and unwavering commitment of all our stakeholders; dynamic employees, loyal consumers, dedicated suppliers and other service providers for their unflinching support through these challenging times.”
The company in the year under review increased its revenue by 6.2 percent from N55.7 billion in 2014 to N59.2 billion in 2015 as its Profit After Tax (PAT) stood at N1.2 billion compared with N2.4 billion recorded in 2014.
“Although the challenges in the operating environment are yet to ease, we have continued to see momentum behind recent initiatives taken by management. We will continue to focus on driving cost efficiencies, growing market share across key categories and reinvesting behind our brands to ensure we satisfy all our stakeholders across the board,” the Obi stressed.
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