Unilever Nigeria plc’s profit surged by 220% in 9 months

Unilever

Unilever Nigeria plc is reporting NGN4.8 billion profit for the nine months ended in 2017 compared to NGN1.5 billion reported in the same period in the financial year 2016.

The result represents 220% rise in profit on a year on year comparison.

The company recorded higher revenue of NGN69.1 billion compared to NGN49.8 billion recorded in the year before while gross profit also rose to NGN21.4 billion from NGN14.7 billion posted in the previous year.

Furthermore, operating profit for the period increased to NGN9.1 billion in contrast to NGN3.1 billion recorded in the fiscal year 2016.

Lastly, Unilever plc said its total assets for the period was NGN78.8 billion compared to NGN72.4 billion in the year 2016 while total liabilities was NGN62.7 billion versus NGN60.8 billion in the year before.

Company Information

Unilever Nigeria Plc. is engaged in the manufacture and marketing of foods and food ingredients, and home and personal care products. The Company’s segments are Food Products, Home Care and Personal Care products. Its Foods Products segment includes sale of tea, savory and spreads. The Company’s Home Care segment includes sale of fabric care, household cleaning and water purification products.

The international brands include Close-Up toothpaste, Pepsodent toothpaste, LUX beauty soap, Lifebuoy soap, Rexona, Vaseline lotion and Vaseline Petroleum Jelly in the Personal Care Unit of the business; Blue Band Margarine, Lipton Yellow Label Tea and Knorr bouillon cubes in the Foods Unit; and OMO Multi-Active Detergent, Sunlight washing powder and Sunlight Dish washing liquid in the Home Care Unit. Other Regional and local jewels include the Pears Baby Products range and Royco bouillon cubes. The Company has manufacturing sites in Oregun, Lagos State and Agbara, Ogun State.