Fast moving consumer goods firm, Unilever Ghana, has witnessed a turnaround in its performance as it recent losses reduced significantly to ¢6.6 million in the first half of this year, from ¢16.8 million recorded the same period last year.
According to its June 2021 Unaudited Financial Statement, revenue for the second quarter of this year grew by 49% year-on-year to ¢299.9 million, compared with ¢204.1 million in quarter 2, 2020.
The company attributed the revenue performance to top line delivery across all categories, from increase in sales volume and increase in brand power and equity.
At the same time, there was an improvement in demand with better supply situation.
Operating loss for the period was ¢6.3 million, a significant reduction from the ¢13.7 million registered a year ago.
The firm recorded -21 pesewas Earnings per Share in June 2021, as against -53 pesewas Earnings per Share a year ago.
Regarding the outlook, Unilever is upbeat about delivering its revenue target for the year and it has therefore put in place measures to reduce operational cost and improve profitability.
|Operating Loss/Profit (GH¢)||-6.62m||-13.72m|
|Loss/Profit after tax (GH¢)||-6.66m||-16.84m|
|Operating Loss/Profit margin (GH¢)||-2.1%||-6.7%|
|Earnings per Share (GH¢)||-0.213||-0.538|