Unilever Nigeria Plc reported a revenue of N55.7billion representing a 7% drop from the N60billion reported in 2013.
Pre-tax profits dropped 58% to N2.8 billion (2013: N6.79billion). The drop in profits was affected by the drop in topline revenue as well as increase in operating expenses for the period. Profit after tax also dropped 79% to N2.4billion for the year compared to N4.7billion reported in 2013.
Earnings per share also dropped 49% to 64 kobo (2013: N1.25). Unilever also proposed a dividend payment of 10kobo per share payable to shareholders who are included in the register before 13-17 Aril 2015. The dividend payments represents a paltry 15.6% dividend payout. Unilever closed trading today at a price of N37.