By Peter Egwuatu

Shareholders of Unilever Nigeria Plc have unanimously approved the 50 kobo per share dividend proposed by its Board of Directors.

The shareholders at the Company’s Annual General Meeting, AGM also approved the financial statement for the financial year ended December 31, 2021 among other resolutions.

The revenue of the company increased by 35 percent to N70.5 billion from N52.2 billion the previous year. Profit before tax was N1.9 billion, compared to a loss of N4.5 billion in 2020. Profit after tax was N0.7 billion, up from a loss of N3.8 billion in the previous year.

Addressing   shareholders   at   the   97th AGM   of   the Company,   the   Chairman   of   the   Board,   His   Royal   Majesty,   Nnaemeka Achebe commended the   shareholders   for   their trust and   loyalty   to   the company, despite the challenging business environment in the last two years.

Speaking on the results, Achebe said, “Despite the challenges faced, our operational discipline on secondary sales, trade debt, overdue, and cash management has driven the right kind of growth in 2021 as we continued to see growth coming back to the business.”

In his remarks, Mr. Carl Cruz, Managing Director, Unilever Nigeria Plc, stated   that   the   considerable   improvement   in   the   2021   financial statements is a direct outcome of the Company’s management commitment to reaching new heights.

Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.