Aug 2016 Financial News

Unilever posts $23.8m half year profits

Aug 10, 2016

Unilever Caribbean saw its half year revenues increase by 7.5 per cent in what chairman Pablo Garrido described as the company’s continued return to growth “in a very challenging external environment.”

The company’s latest unaudited financial results show an increase in profits after tax to $23.8 million, up from $18.3 million in the corresponding period last year. Earnings per share closed at 91 cents showing a 30 per cent increase over 2015.

“We have also maintained our strategy to invest aggressively in our factories during the year, building on the enhancements already made in 2015. Aligned to this initiative, in the second half of the year the first in a series of planned major over hauls of our manufacturing facilities will commence,” Garrido said.

“Looking forward, the uncertainty in the Trinidad economy remains a challenge while the impact of the scarcity of foreign currency is an ongoing concern. Despite these adversities we are encouraged by our year to date performance as we press on with our commitment to grow profitably and delivering strong value for our shareholders.”

Source:
Trinidad Guardian
Wednesday August 10, 2016

http://www.guardian.co.tt/business/2016-08-09/unilever-posts-238m-half-year-profits