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Unilever Nigeria: Expensive! SELL!

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Despite significant revenue and EBIT growth in Q3, UNILEVER recorded y/y and q/q PBT contractions, and would have posted a loss after tax, save for a tax credit (N449.8 million). The company’s production costs have risen quite significantly over the last two quarters, denying earnings the benefits from price increases (PIs). Notwithstanding, we look for ...

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