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Unilever records 16% growth in 2017

Ziobeieton Yeo
Ziobeieton Yeo

Management of Unilever have attributed the company’s double digit growth in 2017 to the improved economic conditions in the country.

According to the Managing Director of Unilever Ghana, Ziobeieton Yeo, the company managed to record a growth rate of 16% in 2017, as a result of currency stability, falling inflation, stable power supply among others.

Speaking at the 22nd Unilever Customer Conference in Accra, Mr. Yeo was optimistic the company will continue to grow as the economy continues to improve.

“If you look back a year ago the high cost of energy, the ease of doing business was a challenge to businesses. But, I must say things have really improved. We are seeing a much more stable Ghana Cedi, we are also seeing inflation rates that are helping businesses.”

Mr. Yeo stated that the company is putting in measures to sustain its growth.

“Unilever as an organization has published its results and we’ve returned to double digit growth, which is 16% growth. We owe it to our key distributors who have stopped at nothing to go out there and support our initiatives in the market place. We are extremely happy with the growth.”

The conference was used as a platform to engage with some of Unilever’s distributers, to address their concerns and also to find ways of moving the business forward.

Unilever Ghana posted a profit after tax of GHC 39.05 million, representing a 9.4 per cent increase over 2015 profit of GHC 35.71 million, despite a decline in turnover.  The company’s revenue declined by 4.32 per cent to GHC 496.31 million against GHC 518.73 same period 2015.

The company’s revenue however grew by 16% year on year from 2016’s figure of GHC 496.31 million to GHS575.25 million in 2017.

By: Bobbie Osei/citibusinessnews.com/Ghana

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