Unilever Nigeria grows turnover 24% to 54.2bn in H1 2023

By Cynthia Ezekwe.

Unilever Nigeria Plc, recorded  a turnover of N54.2 billion in the first half of 2023, representing 24 per cent  topline growth compared to N43.8 billion turnover in the corresponding period in 2022

The publicly listed company with trading and manufacturing interest in the consumer goods market,  disclosed this in  its unaudited interim report for the six months period ended 30th June 2023.

The company recorded a gross profit of N13.1 billion for the period ended 30th June 2023, an 8 per cent  decline, compared to  N14.2 billion reported for the same period last year.

The result showed a profit for the year from continuing operations of N2.8 billion for the period ended 30th June 2023, a 45 per cent increase  compared to a profit of  N1.9 billion in the  corresponding period of 2022.

 Speaking on the results,Tim Kleinebenne, the company’s managing director, said, “Unilever Nigeria remains focused on the delivery of its 4G growth model of competitive, consistent, profitable, and responsible growth.’’

Kleinebenne noted that the company is pleased with its performance progress riding on the pillars of operational efficiency, cost optimization, 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 in health and hygiene needs through our brands and products,” the MD  added.