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.
- 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.