Unilever Nigeria posts Revenue of N52.21bn in 12 months ended December 2021
Unilever Nigeria Plc reported its Q4 12-months unaudited Annual Financial Statement, revealing a 35.07% growth in revenue from N52.21 billion to N70.52 billion recorded in Q4 2021.
The consumer goods company reported a profit after tax of N3.48 billion, reflecting growth of 187.73% from a loss of N3.97 billion in the corresponding period of 2020.
The financial statement revealed that gross profit during the period grew by 80.34% from N11.07 billion in 12-months of 2020 to N19.97 billion in the current period, while other income declined by 43.42% from N66.01 million up to N37.35 billion in 2021. Net profit for the period was subdued by some expense line items as revealed in the income statement.
Brand and Marketing expenses in the period grew by 118.05%, from the prior-year period, influencing the decline in profit before tax and subsequently, net profit for the period. The expense on royalties and services amounted to approximately N2.11 billion in the period under review, as contained in the financial statement.
During the quarter, other expenses that weighed down the net profit included selling and distribution expenses, finance costs and tax expenses.
Unilever Nig Plc operates two segments; namely, Food Products and Home & Personal Care Segments. In the twelve months of 2021, the Home & Personal Care segment of the business has generated more revenue than the Food Products segment. The notes to account reveal that the food products and home & personal care generated N31.00 billion and N39.52 billion respectively.
The company’s net assets increased by N3.81 billion from N62.13 billion recorded at the end of 2020 to N65.94 billion at the end of 2021. Total assets, however, increased by N18.36 billion from year to date.
Unilever Nig Plc is currently trading at N13.05 per share and its market capitalization stands at N5.75 billion as of Wednesday, January 26, 2021. Year-to-date performance shows that the share price of the company has lost 2.61%.
