2022 Report: Unilever Nigeria Records 26% Growth in Turnover

Unilever Nigeria Plc had released its audited report for the year ended 31st December 2022. 

The company recorded turnover of N88.5 billion in the year under review which represents 26 per cent topline growth compared to N70.5 billion turnover recorded in the corresponding year in 2021.

The company recorded a gross profit of N31.1 billion for the year ended 31st December 2022, which is 53 per cent up versus N20.3 billion reported for same period last year.

The result showed a profit for the year from continuing operations of N4.4 billion for the year ended 31st December 2022 compared to a profit for the corresponding year in 2021 of N0.7 billion which is 549 per cent up versus 2021.

Overall, Unilever recorded net profit of N4.4 billion for the year ended 31st December 2022 compared to a profit for the corresponding year in 2021 of N3.4 billion (including profit from discontinued operations) 

Speaking on the results, the Managing Director, 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.”

Cruz added: “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.”