Audio By Carbonatix
Consumer manufacturer, Unilever Ghana’s loss position worsen in the third quarter of 2021, as it registered a loss of ¢20.9 million.
This is compared with a loss of ¢11.4 million during the same period in 2020.
According to its 3rd Quarter Unaudited Financial Statement, revenue however went up by 34.2% to ¢429.4 million in the nine months of 2021.
Unilever attributed its revenue performance to top line delivery across all categories and improved innovations.
Going forward, the company said it has taken price increases and implemented cost savings programmes to offset input cost increases, a move that will help return the firm to profitability.
In terms of the balance sheet, total current assets stood at ¢170.2 million in September 2021, lower than the ¢207.5 million registered in September 2020.
Importantly, inventories went down to ¢90.6 million at the end of quarter 3, 2021, from ¢109.3 million recorded during the same period last year.
Total equity was however estimated at ¢13.8 million in September 2021, as against ¢72 million a year ago.
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