Unilever Plc released its first quarter earnings report with revenue posting flat growth to N14.2billion. Operating profit also saw relatively flat growth rising 0.9% to N2.3billion. Pre-tax profits will however drop 8% to N2billion for the quarter.
I noticed Unilever’s S,G& A has risen 10% back to back for Q1 (2012/2011 and 2013/2012) respectively. It could perhaps be that management seem satisifed with keeping the growth rate in line with inflation while striving to reduce cost of sale and gross operating profit margins.
Unilever, still has strong Returns on Equity (Q1:12%) same as Q1 2012 even with a drop in EPS to N0.33 (33kobo).
Unilever Q1, 2013 earnings report was posted on the website of the NSE