Consumer Goods giant- Unilever Nigeria Plc on Friday presented its unaudited financial statement for the nine-month period ended September 30, 2026, showing continued growth in revenue and profit, a situation the management says is underpinned by strong brand fundamentals, disciplined operations and route to market execution.
Revenue for the period grew by 18% to ₦184 billion, compared with ₦155.4 billion in the corresponding period of 2025. Cost of sales increased to ₦98.544bn from ₦91.445bn, resulting in a gross profit of ₦85.462bn from ₦63.965bn, representing an increase of 34%. Gross margin, therefore, improved to 46.4% from 41.2%.
Selling and distribution expenses rose to ₦7.312bn from ₦5.074bn; marketing and administrative expenses jumped to ₦40.302bn from ₦29.508bn. Impairment write back on trade & other receivables dropped significantly to ₦43.07m from ₦845.946m; just as other income soared to ₦651.658m from ₦244.808m. Operating profit for the nine-month period rose by 27% to ₦38.5 billion from ₦39.462bn.
Finance income rose from ₦7.658bn to ₦9.166bn; finance cost, on the other hand, jumped to ₦2.132bn from ₦710.402m, leaving net finance income at ₦7.034bn from ₦6.948bn. Profit before tax stood at ₦19.173bn from ₦15.429bn, tax expense rise frin ₦21.981bn to ₦26.402bn, representing a 20% growth.
The company’s Board has approved an interim dividend of ₦2.00 each, subject to applicable withholding tax, payable to shareholders whose names appear on the Register of Members as at the close of business on October 30, 2026, amounting to a cumulative interim dividend payable of ₦11.5bn. This, the directors noted, reflects the company’s financial performance and continued commitment to delivering value to shareholders.
Commenting on the performance, the Managing Director, Tobi Adeniyi, said Unilever Nigeria’s “performance in the first nine months of 2026 reflects the underlying strength and resilience of our business.”
He explained that although “consumer demand came under increased pressure in the third quarter as household disposable incomes remained constrained, we stayed focused on delivering value, strengthening availability, executing relevant innovation and maintaining disciplined execution.
“This focus delivered consistent revenue growth, a 34% increase in gross profit, and 20% growth in net profit. We continue to build a more balanced portfolio through sharper choices, accessible innovation and targeted brand investment that strengthen consumer preference and support sustainable, profitable growth.”
Adeniyi expressed the management’s sustained confidence “in the long-term potential of Nigeria and are committed to investing responsibly in our brands, operations and people. Our priority is to build on these strong fundamentals, strengthen performance across the portfolio and create enduring value for consumers, customers, shareholders and our wider stakeholder community as we work to Brighten Everyday Life for All Nigerians.”
