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Q1 2024 interim unaudited report: Unilever Nigeria records 58% growth in turnover

Unilever Nigeria Plc released its unaudited interim report for the three months period ended 31st March 2024.

The Company recorded turnover of N32.3 billion in the period under review which represents 58% topline growth compared to N20.5 billion Turnover recorded in the corresponding period in 2023.

The company recorded a gross profit of N13.5 billion for the period ended 31st March 2024 which is 39% increase versus N9.7 billion reported for same period last year.

The result showed a profit from continuing operations of N3.4 billion for the period ended 31st March 2024 compared to a profit for the corresponding period in 2023 of N2.8 billion which is 19% up versus 2023.

The result for the total business shows a net profit of N3.4 billion for the period ended 31st March 2024 compared to a net profit for the corresponding period in 2023 of N2.7bn which is 26% up versus 2023.

Speaking on the results, the Managing Director, Tim Kleinebenne, said, “With our Growth Action Plan, we are committed to serving consumers with our best brands to meet their daily needs of improved health and hygiene. Unilever is pleased with its performance progress riding on the pillars of operational efficiency, cost optimization, purposeful brands and increasing market share across key categories,”

As the longest serving manufacturing company in Nigeria, Unilever Nigeria is committed to ensuring continuous socioeconomic impact and investment in Nigeria through its brands and operations.

About Unilever 

Unilever is one of the world’s leading suppliers of Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream products, with sales in over 190 countries and products used by 3.4 billion people every day. Unilever Nigeria is a locally listed business that has been operating for over 100 years selling brands such as Knorr, Royco, Vaseline, Rezona, Pears, Pepsodent and Closeup.


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