Unilever Nigeria Grows Q3 Turnover By 26%

Unilever Nigeria Plc has published its unaudited interim financial statements for the nine-month period ending on September 30, 2023.

During this period, the company achieved a turnover of N81.6 billion, marking a substantial 26 percent growth in its top-line revenue when compared to the N64.8 billion recorded in the same period in 2022.

Unilever Nigeria, a centenary-old company and the longest-serving manufacturing firm in Nigeria, is dedicated to making a consistent socioeconomic impact and investment in Nigeria through its brands and operations.

The company reported a gross profit of N19.4 billion for the period ending on September 30, 2023. Notably, it turned a profit of N1.7 billion from its continuing operations in this period, in sharp contrast to a loss of N350 million for the corresponding period in 2022, representing a remarkable 580 percent increase year-on-year.

Tim Kleinebenne, the Managing Director of Unilever Nigeria, expressed his thoughts on the results, stating, “Unilever Nigeria 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.” He went on to mention, “Unilever Nigeria will continue to strengthen its operations in the country to meet citizens’ needs in health and hygiene through our brands.”