Nigeria: Unilever Nigeria Records 26% Growth in Turnover, Hits N88.5 Billion

17 April 2023
Leadership (Abuja)
By Olushola Bello

Unilever Nigeria Plc has recorded a turnover growth of 26 per cent in its audited report for the year ended December 31, 2022.

The company's results released on the Nigerian Exchange Limited showed that turnover grew to N88.5 billion in the year under review compared to N70.5 billion recorded in the corresponding year of 2021.

The company recorded a gross profit of N31.1 billion as against N20.3 billion reported for same period last year. The result showed a profit for the year from continuing operations of N4.4 billion compared to N0.7 billion in 2021, representing 549 per cent growth. Overall, Unilever recorded net profit of N4.4 billion from N3.4 billion (including profit from discontinued operations)

Speaking on the results, the managing director of Unilever Nigeria, Carl Cruz, 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 optimization, purposeful brands and increasing market share across key categories."

He added that "Unilever Nigeria will continue to strengthen its operations in the country to meet citizen's needs in health and hygiene through our brands and products."

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