Despite the unfriendly operating climate, business is looking good for Unilever Nigeria Plc.
According to the unaudited interim report for the twelve months period ended 31st December 2023, the company recorded turnover of N97.4 billion in the period under review which represents 51% topline growth compared to N64.6 billion turnover recorded in the corresponding period in 2022.
The company recorded a gross profit of N29.8 billion for the period ended 31st December 2023 which is 13% increase versus N26.3 billion reported for same period 2022.
The Net profit for the total business grew 91% to N8.5 billion for the period ended 31st December 2023 compared to the N4.5bn net profit from the corresponding period in 2022.
Besides, the Net profit from ongoing operations, adjusting for portfolio changes made in 2023, grew 106% to N12.3 billion for the period ended 31st December 2023 compared to the like-for-like portfolio net profit of N6.0 billion for the corresponding period in 2022.
In the view of the Managing Director, Tim Kleinebenne, “These positive results show Unilever Nigeria remains focused on the delivery of competitive, consistent, profitable, and responsible growth.
“Unilever Nigeria made great progress in 2023 through operational efficiency, cost optimisation, the right portfolio of purposeful brands and increasing market share across key categories.”
While noting that Unilever Nigeria will continue to strengthen its operations in the country to meet citizen’s needs through “our best brands, our people and our operations,” he added that as the longest serving manufacturing company in Nigeria that celebrated its 100-year anniversary in 2023, Unilever Nigeria is here to stay, fully committed to carry on serving Nigerians with great locally made brands while making a positive socioeconomic contribution to the country.
Unilever is one of the world’s leading suppliers of Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream products, with sales in over 190 countries and products used by 3.4 billion people every day.
Credit: thenationonlineng.net
