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We have overcome the meltdown,Unilever

Category: Investors NewsBeat

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We have overcome the meltdown,Unilever

May 6, 2010

Unilever Nigeria Plc has  said that it is better positioned to be more productive after overcoming the effect of the global meltdown.

Speaking at the 85th  Annual General Meeting of the company,  Apostle Hayford Alile,  Chairman Board of Directors of the company, lamented the adverse impact of the economic meltdown in the previous year, which according  to him, made it impossible for Unilever and other multinational companies to have a swell time during the period.

According to him, “The year started on a platform of a significantly devalued Naira against the major world currencies and this fed through as higher brought-in costs.Following from this was the shortage of foreign exchange, then logistical difficulties at the port due to congestion and at the close of the year; we faced the credit crisis at the back of the banking sector reforms.”


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