Unilever Ghana Limited registered a net profit after tax of GHÃ‚Â¢29.2 million in the financial year ended 2008, as against GHÃ‚Â¢12.4 million in the previous year.
The companyÃ¢â‚¬â„¢s operating profit also rose by 56.7 per cent from GHÃ‚Â¢18.2 million in 2007 to GHÃ‚Â¢28.5 million in 2008 and its Board declared an interim dividend of GHÃ‚Â¢0.1005 per share and recommended a final dividend of GHÃ‚Â¢0.1123 all of which amounted to GHÃ‚Â¢0.2128 per share.
The shareholders also approved resolutions to elect and fix remunerations of Directors as well as amended regulations to allow for conversion and/or issuance of shares in electronic data form in compliance with requirements of the Ghana Stock Exchange.
Mr Charles Cofie, Chief Executive Officer of the company, who disclosed this at its Annual General Meeting (AGM) in Accra on Thursday, said the high performance was as a result of prudent measures adopted by management.
Mr Cofie said management resorted to cost cutting measures in the heat of the global economic crisis to ensure that its impact was minimal on the companyÃ¢â‚¬â„¢s performance.
He said high turnover rate was reduced and strong portfolio management measures adopted to cut down on unnecessary operational expenditure which resulted in saving of cost.
Mr Cofie said the continued global economic crisis posed a greater challenge to the company this year but was confident that its strategies and brands would continue to do well.
Ã¢â‚¬Å“We will explore and take appropriate internal actions with the aim of pursuing our strategic objectives to ensure the viability of the company.Ã¢â‚¬Â
Mr Cofie gave the assurance that the company would continue to meaningfully contribute to the development of society through its social responsibility interventions.