Unilever Nigeria Plc has released its results for the first quarter ended March 2019.
Here are highlights of the results.
Revenue dropped from N24.2 billion in 2018 to N19.2 billion in 2019. This amounts to a 20.6% decline year on year.
Profit before tax
Profit before tax also fell from N3.7 billion in 2018 to N2 billion in 2019. This amounts to a 45.9% decrease compared to the corresponding period in 2018.
Profit after tax
Profit after tax also declined from N2.7 billion in 2018 to N1.5 billion in 2019. This amounts to a 44.4% decrease quarter on quarter.
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Earnings per Share
Earnings per share declined from N0.48 in 2018 to N0.26 in 2019. This amounts to a 45.8% decrease quarter on quarter.