Vunderkind
Social Member
Unilever Nigeria has on Friday reported in its fourth quarter (Q4) 2013 report that in spite of its 4% sales growth to N14.4 billion, profit before tax (PBT) and after Tax (PAT) have declined by 22% to N1.9 billion and 18% to N1.3 billion respectively when compared to fourth quarter (Q4) 2012.
“A 329bps y/y gross margins contraction and a 10 per cent y/y rise in opex weighed on profitability, resulting in the PBT decline during the quarter,” reports World Stage Group. “The rise in opex is consistent with higher marketing expenses similar to competition such as Nestle Nigeria and PZ Cussons Nigeria.”
Unilever has proposed a final dividend of N1.40 (similar to 2012), implying a yield of 3.1%.
Each year, Unilever shares have declined by -16%, underperforming the NSE ASI, which has so far this year shed 7%.
“A 329bps y/y gross margins contraction and a 10 per cent y/y rise in opex weighed on profitability, resulting in the PBT decline during the quarter,” reports World Stage Group. “The rise in opex is consistent with higher marketing expenses similar to competition such as Nestle Nigeria and PZ Cussons Nigeria.”
Unilever has proposed a final dividend of N1.40 (similar to 2012), implying a yield of 3.1%.
Each year, Unilever shares have declined by -16%, underperforming the NSE ASI, which has so far this year shed 7%.
