The re­trench­ment of over 100 work­ers last month by Unilever Caribbean has con­tributed to the com­pa­ny record­ing a loss for the first half of 2022.

In the com­pa­ny’s unau­dit­ed fi­nan­cial state­ment for the sec­ond quar­ter of 2022, the com­pa­ny said as a re­sult of the in­curred re­struc­tur­ing ex­pens­es in the sec­ond quar­ter of $37.4 mil­lion, it record­ed a loss for the quar­ter of $18.1 mil­lion, and $12.6 mil­lion for the half.

Unilever’s Chair­man Ro­dri­go So­tomay­or said ex­clud­ing the one-off re­struc­tur­ing, the com­pa­ny en­joyed a sol­id per­for­mance, man­ag­ing to grow its op­er­at­ing prof­it for the quar­ter from $7.3 mil­lion in the pri­or year to $9.5 mil­lion, and for the half year from $15.4 mil­lion to $16.6 mil­lion in spite of in­creas­ing pres­sure com­ing from the com­mod­i­ty and freight in­fla­tion.

Cash de­clined from $135.0 mil­lion to $92.3 mil­lion as a re­sult of the sub­stan­tial div­i­dend that was paid out dur­ing quar­ter two.

Rev­enue al­so grew 16 per cent for the quar­ter, and 10 per cent for the half year, to $66.4 and $128.5 mil­lion re­spec­tive­ly.

This rev­enue growth was pri­mar­i­ly dri­ven by a ro­bust per­for­mance in the lo­cal mar­ket across all cat­e­gories, with a strong re­bound of the home care seg­ment and foods cat­e­gories in the ex­port mar­kets.

“The trans­for­ma­tion jour­ney has changed the com­pa­ny in­to a more fu­ture-fit or­gan­i­sa­tion, with a sus­tain­able and prof­itable op­er­a­tion, and we es­pe­cial­ly ap­pre­ci­ate the ded­i­ca­tion that has been, and con­tin­ues to be demon­strat­ed by our staff dur­ing this process,” So­tomay­or added.