Unilever Nigeria records 30% topline growth in Q3 2022

Unilever Nigeria Plc has recorded a turnover of N64.8 billion, representing 30 percent topline growth compared to N49.7 billion turnover generated in the corresponding period of 2021.

The company made this known in its unaudited interim report for the nine-month period

ended 30th September, 2022.

The result further showed that the trading/manufacturing company recorded a gross profit of N17.2 billion for the period ended 30th September, 2022, which is a 25-percent increase above N13.8 billion reported for the same period last year. It had posted a profit after tax of N0.70 billion in the corresponding period in 2021

On the flipside, Unilever recorded a loss of N0.34 billion for the period ended 30th September, 2022. The loss recorded during the period was driven by unrealised exchange losses, interest on trade loans and tax charge for the period, the company said.

On the way forward, it said its emphasis remains on taking deliberate steps to improve its profitability in the immediate and long term.

Commenting on the report, Soromidayo George, Unilever’s corporate affairs and sustainable business director, said that the organisation will continue to demonstrate resilience and commitment to continuous investments in its brands in Nigeria.

George assured that Unilever Nigeria remains committed to investing in Nigeria to continue to serve citizens with its brands and products to enhance their health, hygiene and wellbeing.

She further noted that the organisation remains focused on its strategy to deliver

sustainable growth, riding on the pillars of operational efficiency, cost optimization,

purposeful brands and taking deliberate steps to intensify its localisation agenda to

create jobs opportunities for Nigerians through its supply chain and ecosystem.