- Unilever Nigeria revealed it has discontinued the production of essential skin and home care products
- The company stated in its annual financial report that it stopped the production of Omo, Lux, Sunlight, and others
- Unilever disclosed back in March 2023 that it would discontinue the production of those products due to losses in those markets
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Unilever Nigeria said it stopped producing and selling home care and skin cleansing products 10 months after it announced its exit from the Nigerian markets.
The company revealed this in its unaudited interim financial statements for the year ended December 31, 2023, and published it on the Nigerian Exchange Limited (NGX) on Wednesday, January 17, 2024.
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Unilever Nigeria leases its factory to a third party
The company disclosed on March 17, 2023, that it plans to discontinue the production of its homecare and skin-cleansing brands, including Omo, Sunlight, and Lux.
TheCable reported that Unilever Nigeria said in a statement in the company’s earnings report that the production of those products ceased in December 2023.
It said it had leased the factory used to produce the home care and skin cleansing products to a third party.
It said:
“After the company’s exit from the Home Care and Skin Cleansing categories, the factory buildings have been leased to a third party for 10 years, with annual rental payments.”
Unilever Nigeria reports losses in-home care section
The company’s exit from the homecare and skin-cleaning markets leaves the firm with just foods, beauty well-being, and personal care products.
Before the company’s exit from the markets, it reported a decline in revenue and a rise in losses.
The company’s revenue declined by 45.1% yearly to N16.48 billion in 2023 from N23.93 billion between January and December 2022.
Also, the company’s loss rose to N3.72 billion in 2023 compared to the year before.
Major healthcare manufacturing firm, GSK, to exit Nigeria after 51 years
Legit.ng reported that GlaxoSmithKline (GSK), a British healthcare and multinational biotech firm, has announced plans to leave Nigeria after 51 years of operations.
The company said in a statement seen by Legit.ng that it disclosed that the British firm informed GlaxoSmithKline Consumer Nigeria Plc of its plans to cease the commercialization of its top medicines and vaccines in the country via GSK local operating companies and move to a third-party direct distribution model.
The company added that it had stated its plans to end its distribution agreement in the coming months and appoint a third-party distributor in Nigeria to supply healthcare products.
Source: Legit.ng
