Unilever Nigeria reports N5.99 billion profit for FY 2022

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 tax

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: 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.

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