Unilever Ghana recorded a growth in profit of ¢141m in 2023 compared to ¢15 million recorded in the same period in 2022.

According to the Finance Director at Unilever Ghana Shweta Dwivedi, the company has been able to handle the impact of taxes on its operations even under the unfavourable business climate experienced in 2023.

She spoke to Joy Business on the sidelines of the Unilever Annual General Meeting in Accra.

Ms Dwivedi credited its recent profit resurgence to "strategic initiatives, including price adjustments and enhanced innovations."

The company has proposed a dividend payment of 40 pesewas per share to its shareholders.

Despite this financial upturn, the parent group had to write off approximately GH¢75 million for the Ghanaian subsidiary, which would have significantly impacted total earnings otherwise.

The Managing Director of Unilever Ghana Plc, Chris Wulff-Caesar, disclosed these profits during the company’s 50th Annual General Meeting in Accra.

“The group results for the year ended 31st December 2023 show revenue growth of 44% from GH¢632 million in 2022 to GH¢908 million in 2023.

"Ghana’s profits for the year were GH¢141 million, an improvement over the previous year’s profit of GH¢15 million," he stated.

“The Group exited the year with a positive cash and cash equivalents position of GH¢109 million, compared with the deficit of GH¢59 million in 2022.”