H1 2023: Unilever Nigeria Declares 24% Increase in Turnover to N54.2bn

Unilever Nigeria Plc released its unaudited interim report for the half year ended 30th June 2023, declaring N54.2billion in revenue, an increase of 24 per cent from N43.8billion recorded in the corresponding period in 2022.

The company recorded a gross profit of N13.1 billion for the period ended  June 30, 2023 which is  eight per cent drop versus N14.2 billion reported for same period last year.

The result showed a profit for the year from continuing operations of N2.8 billion for the period ended  June 30th,  2023 compared to a profit for the corresponding period in 2022 of N1.9 billion which is 45 per cent up versus 2022.

Speaking on the results, the Managing Director, Unilever Nigeria, Tim Kleinebenne, in a statement 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,”

“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,” 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.