{"id":711525,"date":"2019-09-27T12:27:11","date_gmt":"2019-09-27T12:27:11","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/09\/27\/unilever-distributors-face-hard-times\/"},"modified":"2019-09-27T12:27:11","modified_gmt":"2019-09-27T12:27:11","slug":"unilever-distributors-face-hard-times","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/09\/27\/unilever-distributors-face-hard-times\/","title":{"rendered":"Unilever Distributors Face Hard Times"},"content":{"rendered":"

<\/p>\n

\n

Gladys Amoah, MD, Unilever Ghana<\/strong><\/em><\/p>\n

UNILEVER GHANA
\nLimited (UGL) says it has decided to reset its levels of stock held by
\ndistributors over the coming months.<\/p>\n

According to the
\ncompany, in its disclosure on the outlook for the second half of this year,
\nsigned by Gladys Amoah, managing director, the economic climate in the country
\nhas seen a slow-down \u2013 especially in trading conditions particularly \u2013 after
\nthe banking sector reforms which began in the last quarter of last year.<\/p>\n

\u201cThis, in conjunction
\nwith a more subdued consumer demand, has resulted in many distributors finding
\nit increasingly difficult trading. This has resulted in unusually high
\ninventory levels in Unilever Ghana Limited (UGL)\u2019s extended distribution
\nnetwork.\u201d<\/p>\n

It added \u201cConsequently,
\nUGL has decided to reset the levels of stock held by distributors over the
\ncoming months. This will impact business performance in the third quarter of
\n2019 and will mean that full year turnover for 2019 will be considerably lower
\nthan planned and also in comparison with the prior year. We expect the impact
\non performance to be short term.\u201d<\/p>\n

For the 2018
\nfinancial year, the company recorded revenue of GH\u00a2632 million compared to
\nGH\u00a2575 million in the preceding year, representing a revenue growth of 10 per
\ncent.<\/p>\n

Board Chairman of
\nUnilever, Edward Effah, during the company\u2019s 45th <\/sup>Annual General
\nMeeting (AGM) in Accra, attributed the growth in revenue to the increase in the
\nsale of the company\u2019s products.<\/p>\n

He said the
\ncompany recorded an operating profit before tax of GH\u00a2250 million, representing
\na 283 percentage increase over that of 2017 (GH\u00a265 million). <\/p>\n

\u201cProfit after tax
\ntherefore improved by 296 per cent to GH\u00a2191 million compared to GH\u00a248 million
\nin 2017,\u201d he said.<\/p>\n

He, therefore,
\nindicated that a dividend payout of GH\u00a20.80p per share from the 2018 profits
\namounting to a total of GH\u00a250,000 had been proposed by the board of directors.<\/p>\n

Ms Amoah, at that
\nmeeting, said Unilever extended coverage to over 64,000 customers directly
\nthrough its partnership with key distributors. <\/p>\n

\u201cOver 110 youth
\nhave been employed through the tricycle salesman deployment project in southern
\nGhana and an additional 100 women have been empowered economically under the
\nShakti programme in the north as well,\u201d she said. <\/p>\n

Mrs. Amoah,
\nhowever, noted that cash and cash equivalent was in the deficit of GH\u00a265.5
\nmillion in 2018 compared to GH\u00a253.18 million in 2017.<\/p>\n

That, according to her, was largely due to the challenging environment during the period under review.<\/p>\n

BY Samuel Boadi <\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Gladys Amoah, MD, Unilever Ghana UNILEVER GHANA Limited (UGL) says it has decided to reset its levels of stock held by distributors over the coming months. According to the company, in its disclosure on the outlook for the second half of this year, signed by Gladys Amoah, managing director, the economic climate in the country […]<\/p>\n","protected":false},"author":1,"featured_media":711526,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-711525","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nUnilever Distributors Face Hard Times - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/09\/27\/unilever-distributors-face-hard-times\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Unilever Distributors Face Hard Times - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Gladys Amoah, MD, Unilever Ghana UNILEVER GHANA Limited (UGL) says it has decided to reset its levels of stock held by distributors over the coming months. 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