Unilever Nigeria nets N7bn Q1 profit

By Damilare Adeleye

Unilever Nigeria Plc recorded a profit after tax of N7.02 billion for the first quarter ended March 31, 2026, reflecting a strong performance driven by revenue growth and higher finance income despite rising costs.

The consumer goods firm posted revenue of N59.17 billion, representing a 26 per cent increase from N46.98 billion in the corresponding period of 2025.

These were contained in the company’s unaudited Q1 2026 interim financial statements filed on the Nigerian Exchange Limited on Thursday.

According to the company, its profit rose from N5.55 billion recorded a year earlier, while earnings per share improved to N1.22 from N0.97, underscoring stronger returns to shareholders.

Operating profit grew to N11.48 billion from N8.27 billion, supported by an increase in gross profit to N26.61 billion from N18.85 billion.

However, the results showed mounting cost pressures, as marketing and administrative expenses climbed to N13.58 billion from N9.09 billion.

A breakdown of revenue shows the Foods segment remained the largest contributor with N37.69 billion, followed by Personal Care at N15.84 billion and Beauty & Wellbeing at N5.64 billion.

Meanwhile, Unilever Nigeria Plc’s Q1 2026 performance reflects a resilient earnings profile, underpinned by strong revenue growth and improved profitability despite a challenging operating environment.