“The results reflect difficult trading conditions in 2019 as well as a decision by management to slow down on sales in order to reset the levels of stock in trade. Operating loss for the period was GH¢205 million compared with GH¢253 million profit in 2018. Loss after tax was GH¢160 million in 2019 vs profit of GH¢191 million in 2018,” the statement explained.
The results however revealed, Unilever envisaged no dividend was expected to be recommended or paid to shareholders of the company.
Meanwhile, dividend pay-out for the year 2018 was pegged at 0.80 per share amounting to a total of GH¢50,000,000.
“These unfolding developments have further worsened pre-existing weaknesses in the global growth and caused major disruptions to global supply chains, with adverse implications for the global economy,” he concluded.
Source: Unilever Ghana