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.
Latest Stories
-
Kenyan military chief among 10 people killed in helicopter crash
14 mins -
Insinuating Bagbin is not heeding calls for recall because he is NDC unfounded and unfortunate – Parliament
2 hours -
Ashanti, Nelly are engaged and expecting a baby
3 hours -
New Ghana train on test run involved in accident
3 hours -
World Bank, AfDB partner to provide 300m African’s with electricity access
3 hours -
Ghana wins preliminary ruling in Cassius Mining’s $300m international arbitration
3 hours -
Ghana’s revenue-to-GDP ratio to exceed 17% within next six years, but expenditure to remain flat – IMF
3 hours -
Gborbu Wulomo didn’t marry Naa Okromo – Chieftaincy Minister
3 hours -
Oquaye Jr. says he’s undeterred by ‘propaganda’ twist to viral laundry video
3 hours -
Ghana’s debt-to-GDP ratio to tumble to 69.7% in 2029 – IMF
4 hours -
Interior Ministry imposes 4pm to 7am curfew on Sampa
4 hours -
Child marriage: Teenage girl to be released to her family – Gender Minister-designate
4 hours -
Naa Okromo is 15 years old, still a virgin and not married to Gborbu Wulomo – Government
4 hours -
GhIE condemns intervention by Ashanti Regional Minister in ECG Affairs; commends ECG GM for upholding regulatory standards
4 hours -
GPL: Asantehene tasks Asante Kotoko to do ‘better’ after crucial meeting
4 hours