Business

Unilever Nigeria Plc pledges corporate governance to shareholders

The management of Unilever Nigeria Plc has assured shareholders of its commitment to good corporate governance to drive sustainability and efficiency across the company’s operations.

Addressing shareholders at the 96th Annual General Meeting (AGM), Chairman, Unilever Nigeria Plc, HRM, Nnaemeka Achebe said the company recorded a turnover of N62 billion for the year ended December 31, 2020.

He commended the shareholders for their trust and loyalty to the company despite the challenges posed by the COVID-19 pandemic in the year under review.

He added that the company will remain strategic in its approach to attaining sustainable growth and profitability.

According to the company’s financial report, there was a 2.4 per cent year-on-year increase in revenue from N60.8 billion to N62 billion in the year under review. The increase was driven by 7.3 per cent year-on-year growth in its food products, which was slightly offset by a three per cent revenue drop in the home and personal care segments.

He said the results reflected a challenging operating environment with significant disruptions and volatilities, but Unilever Nigeria continued to build its resilience to navigate the impact of headwinds.

Achebe added that the company remains focused on its strategy to deliver sustainable growth both in the medium and long-term riding on the pillars of operational efficiency, cost optimisation, purposeful brands and increasing market share across key categories.

“We continue to monitor the business environment and respond appropriately to volatilities in the operating environment as well as disruptions from the Covid-19 pandemic,” Achebe said.

In compliance with the Federal and State government directives on social distancing as part of measures to reduce the spread of the coronavirus, this year’s AGM was hybrid with most of the shareholders joining virtually

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