Unilever Nigeria Adjust business model to accelerate growth, sustain profitability.

Date:

March 20, 2023.

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Azonuchechi Chukwu.

Unilever Nigeria Plc has notified the Nigerian Exchange and the Investing Public of its intention to exit the Home Care and Skin Cleansing categories to concentrate on higher growth opportunities.

According to the notification available on the website of the Nigerian Exchange, the Company stated thus:

The Company will make changes to its business model in order to accelerate growth and sustain profitability while enhancing its ability to meet consumer needs. The 100- year-old consumer goods company will repurpose its portfolio while putting in place measures to make the business more efficient and future fit.

 

These changes will reposition the Company to better meet the needs of consumers, shareholders, and employees. This will involve:

• Repurposing the portfolio by exiting the Home Care and Skin Cleansing categories to concentrate on higher growth opportunities.

• Strengthening business operations with measures to digitize and simplify processes; and

• Focusing more on business continuity measures that reduce exposure to devaluation and currency liquidity in our business model.

The exit of these two categories over 2023 will boost the vision to make Unilever Nigeria great, building on the impressive progress made in other key aspects of the business, and is envisaged to result in overall improvement in profitability, growth and a more sustainable Unilever Nigeria plc. business.

The Company will in due course review the optimal treatment of redundant resources and assets in accordance with due process.(www.naija247news.com).

Chukwu Azochukwu, The Naija247news
Chukwu Azochukwu, The Naija247newshttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

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