Unilever Nigeria Plc has released its unaudited interim report for the twelve months ended 31st December 2023.
The Company recorded a turnover of N97.4 billion in the period under review which represents 51% topline growth compared to N64.6 billion turnover recorded in the corresponding period in 2022.
The company in a statement said it recorded a gross profit of N29.8 billion for the period ended 31st December 2023 which is a 13.69% increase versus N26.3 billion reported for the same period 2022.
Net profit for the total business grew 88.89% to N8.5 billion for the period ended 31st December 2023 compared to the N4.5 billion net profit from the corresponding period in 2022.
Net profit from ongoing operations, adjusting for portfolio changes made in 2023, grew 106% to N12.3 billion for the period ended 31st December 2023 compared to the like-for-like portfolio net profit of N6.0 billion for the corresponding period in 2022.
Key Details of the Report: FY 2023 (FY 2022, % change)
- Turnover: N97.4 billion: (N64.6 billion, +51%)
- Gross profit: 29.9 billion (N26.3 billion, +13.69%)
- Operating profit: N17.4 billion (N9.1 billion +87.91%)
- Profit before tax: N17.4 billion (N9.3 billion, +87.09%)
- Profit after tax: N8.5 billion (N4.5 billion, +88.89%)
- Earnings per share: 1.49 (1.04, +43.27%)
Managing Director, Tim Kleinebenne, in a statement, said the results show Unilever Nigeria remains focused on the delivery of competitive, consistent, and profitable growth.
- “Unilever Nigeria made great progress in 2023 through operational efficiency, cost optimization, the right portfolio of 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 through our best brands, our people and our operations,” he added.
