Manufacturer and marketer of home and personal care products, Unilever Nigeria Plc, recently disclosed that one of its substantial shareholders, Unilever Overseas Holdings B.V purchased 17,023,490 shares, worth ₦204,281,880.00. This is in accordance with the Nigerian Stock Exchange policy on insider dealing.
In a note by Unilever’s General Counsel and Company Secretary, Abidemi Ademola to the Nigerian Stock Exchange (NSE), Unilever Overseas Holdings B.V bought the shares at N12 per share on August 10, 2020, from the Nigerian Stock Exchange (NSE) in Lagos Nigeria.
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Recently, Unilever Nigeria Plc published its unaudited H1-2020 financial result. According to the report, Revenue sharply declined by 35.9%y/y to N27.3bn, amid the continued negative impact of the management’s decision to tighten credit terms since H2-2019, on the y/y volume growth.
Overall, the company recorded a Loss before and after tax of N566.8mn and N519.1mn respectively (vs. Profit before and after-tax of N4.7bn and N3.5bn respectively in H1-2019).