Unilever today released unaudited results for the three months ended 31 March 2017.
Revenue N’million
Q1 2017| N22,172
Q1 2016| N16,782
%age change|32%
Profit after tax N’million
Q1 2017| N1,603
Q1 2016| N1,041
%age change|54%
EPS (kobo)
Q1 2017|42K
Q1 2016|28K
%age change|50%
Good result for them. Management must have managed selling and admin expenses well as it dropped significantly. However, thinning gross margin which characterizes our business environment possibly due to sourcing of some raw materials off the shores (externally) was observed. Gross margin declined from about 36% to 28%. Hopefully, a level of normalization could be reached if currency stabilizes.