BEVERLY HILLS, April 21, (THEWILL) – Unilever Nigeria Plc has recorded a turnover of N19.4 bn in the first quarter of 2021. This represents 46% growth compared to N13.3bn recorded in the corresponding quarter of 2020.
The company, in its unaudited interim report for the quarter ended 31st March 2021, recorded a gross profit of N4.5bn, a 31% increase compared to the N3.4bn reported for same period last year.
Overall, Unilever recorded loss after tax of N.5bn for the quarter ended 31st March 2021 compared to profit after tax of N1.1bn reported for the corresponding period in 2020.
Speaking on the results, the Corporate Affairs and Sustainable Business Director, ‘Soromidayo George said that improved performance shows the determination and commitment of Unilever to continue to implement strategies that would enable it deliver value to its customers and shareholders.
“Unilever Nigeria remains focused on its strategy to deliver sustainable growth both in the medium and long-term”, she said.
Amidst the prevailing operational challenges of the environment, Unilever Nigeria, said it will continue to focus on its vision of making sustainable living commonplace by serving Nigerian consumers with the right products that improve their health and wellbeing.
Key Highlights
*Revenue grew by 45.7% to N19.4bn from N13.3bn in the previous quarter.
*Loss before tax stood at N110m.
*Loss after tax stood at N492m.
*Net Assets declined by -0.8% from N62.1bn to N61.6bn.
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