Unilever Nigeria records 26% growth in turnover

Unilever Nigeria Plc released its unaudited interim report for the nine months period ended  September 30, 2023 with a turnover of N81.6 billion in the period under review which represents 26 percent growth when compared to N64.8 billion turnover recorded in the corresponding period in 2022.

The company recorded a gross profit of N19.4 billion for the period ended 30th September 2023 which is 13 percent increase versus N17.2 billion reported for the same period last year.

The result showed a profit for the period from continuing operations of N1.7 billion for the period ended 30th September 2023 compared to a loss for the corresponding period in 2022 of -N0.3 billion which is 580 percent up versus 2022.

Speaking on the results, the Managing Director, Tim Kleinebenne, said, “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 optimisation, purposeful brands and increasing market share across key categories.

“Unilever Nigeria will continue to strengthen its operations in the country to meet citizen’s needs in health and hygiene through our brands,” he added.

As a centenary old company and the longest serving manufacturing company in Nigeria, Unilever Nigeria is committed to ensuring continuous socioeconomic impact and investment in Nigeria through its brands and operations.