Unilever Nigeria Returns To Profit, Nets N1.669bn At Q3

The management of Unilever Nigeria Plc recently released its unaudited interim report for the nine months ended September 30, 2023, showing that the company recorded double digit growth in revenue, even as it returned to profit rekindling hope for dividend payment in the foreseeable future.
According to the result presented to the Nigerian Exchange, turnover grew by 25.95% from N64.767bn, from which gross profit rose to N19.4bn, from N17.2bn reported for same period last year; while profit before tax improved by a significant 937.34% from N473.12m in the corresponding period of 2022, to N4.907bn.
After tax profit stood at N1.669bn, as against the previous N348.008m loss, representing a 580% improvement.
A statement by Unilever Nigeria quoted the Managing Director, Tim Kleinebenne, while commenting on the resulting, as saying the company “remains focused on the delivery of its 4G growth model of competitive, consistent, profitable, and responsible growth. Unilever is pleased with its performance progress riding on the pillars of operational efficiency, cost optimization, purposeful brands and increasing market share across key categories.”
Unilever Nigeria, he continued, ‘will continue to strengthen its operations in the country to meet citizen’s needs in health and hygiene through our brands.”
The century old company, Nigeria’s oldest manufacturing company, the statement assured, is committed to ensuring continuous socioeconomic impact and investment in the country through its brands and operations.