Unilever Plc reported her unaudited Q3 ended September 30th 2017 results to the market on Friday, October 20, 2017. Revenue increased by 38.61% in Q3 2017 compared to Q3 2016 due to increase in price of food items in 2016 caused by inflation.
The firm saw an increase in its finance cost irrespective of a significant decrease in its borrowings. This was due to interest paid on an intercompany loan from Unilever Finance International AG.
Key Highlights:
- Revenue increased by 38.61% in Q3 2017 compared to Q3 2016 due to increase in price of its products this year caused by inflation.
- The firm saw an increase in its finance cost irrespective of a significant decrease in its borrowings. This was due to a huge interest paid on an inter-company loan from Unilever Finance international AG.
- The marketing & administrative expenses went down due to the firm’s cost management strategy which resulted in cost savings and contributed to the stellar performance in its bottom line.
- The firms leverage went down significantly due to the huge reduction in borrowings.
- The firms Q3 2017 net income which came in at ₦4.8 billion has already surpassed the full year net income achieved in 2016.
- The firm recently concluded a ₦58.9bn Rights Issue to help the company repay outstanding foreign loans, purchase additional raw materials and other working capital requirements. We expect this to impact their future performance.
Kindly click on this link to see full details on the Corporate Brief of the firm.