Unilever registers GH¢29.2 million net profit

Mr Charles CofieUnilever Ghana Limited registered a net profit after tax of GH¢29.2 million in the financial year ended 2008, as against GH¢12.4 million in the previous year.

The company’s operating profit also rose by 56.7 per cent from GH¢18.2 million in 2007 to GH¢28.5 million in 2008 and its Board declared an interim dividend of GH¢0.1005 per share and recommended a final dividend of GH¢0.1123 all of which amounted to GH¢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 company’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.

“We will explore and take appropriate internal actions with the aim of pursuing our strategic objectives to ensure the viability of the company.”

Mr Cofie gave the assurance that the company would continue to meaningfully contribute to the development of society through its social responsibility interventions.

Source: GNA