- Cost discipline drives Unilever Ghana profit surge despite modest revenue growth
Unilever Ghana delivered a sharp recovery in profitability in 2025, with earnings more than doubling as tighter cost controls and operational efficiencies offset only modest revenue growth. Revenue rose by 12% to GH¢1.04 billion, up from GH¢930.8 million in 2024, pointing to steady but not exceptional top-line expansion in a still-constrained consumer environment.
Profit after tax surged by 65% to GH¢95.7 million, compared with GH¢58.1 million a year earlier, signalling a significant improvement in margins and cost management. This translated into a sharp rise in earnings per share, which increased to GH¢1.53 from GH¢0.93, reinforcing the strength of the company’s earnings recovery.
Gross profit rose to GH¢409.2 million, up from GH¢352.8 million, as the company benefited from improved cost efficiency across its production and supply chain. More importantly, net profit margin expanded significantly to 9%, compared with 6% in 2024, highlighting a decisive shift in profitability dynamics.
This margin expansion suggests that Unilever Ghana is beginning to regain pricing power and operational control after a period marked by elevated input costs and currency pressures. The company’s cash flow position improved markedly, with cash generated from operations rising to GH¢247.3 million, a 160% increase from the previous year.
Net cash generated from operating activities stood at GH¢189.3 million, up from GH¢41.2 million, reflecting stronger underlying business performance and improved working capital management. As a result, cash and cash equivalents more than doubled to GH¢210.5 million, compared with GH¢97.0 million in 2024, significantly enhancing liquidity.
Total assets increased to GH¢547.2 million, from GH¢444.0 million, supported by higher cash balances and working capital expansion. Shareholders’ funds rose by 23% to GH¢278.9 million, underlining the strengthening equity position of the company.
At the same time, total liabilities increased to GH¢268.3 million, reflecting higher trade payables and operational financing needs, although the overall balance sheet remains stable.
The board has proposed a dividend of GH¢1 per share, amounting to GH¢62.5 million, signalling confidence in the sustainability of earnings and cash flow generation.
The company’s turnaround is being driven less by volume expansion and more by margin recovery and cost discipline, a trend that aligns with broader shifts across Ghana’s consumer goods sector.
