Unilever Nigeria Plc has released its full-year 2022 financial report and it shows significant improvements across all financial indicators.
The consumer goods maker reported a profit after tax of N5.99 billion, reflecting a 75.7% increase from the amount reported in the previous year.
The financial report is summarised below.
Revenue
2022 FY: N88.720 billion
2021 FY: N70.523 billion
Change: +25.80%
Gross Profit
2022 FY: N31.482 billion
2021 FY: N20.361 billion
Change: +54.62%
Operating profit
2022 FY: N8.577 billion
2021 FY: N1.129 billion
Change: +659.70%
Net Finance cost
2022 FY: N1.286 billion
2021 FY: N931 million
Change: -38.13%
Pre-tax profit
2022 FY: N9.863 billion
2021 FY: N1.879 billion
Change: +425.75%
Net Profit after taxÂ
2022 FY: N5.993 billion
2021 FY: N3.409 billion
Change: +75.80%
Earning per shares
2022 FY: N1.04
2021 FY: N0.59
Change: +76.27%
Bottomline:Â The profit growth was despite the double-digit inflation which rocked the Nigerian economy last year. During the period, revenue from food products, as well as home and personal care, accounted for N42.6 billion and N46.1 billion, respectively.
That is an impressive performance by management group. Keep it up please.