Unilever Nigeria Plc has released its unaudited interim report for the nine-month period ended September 30, 2024, recording a turnover of N103.8 billion in the period under review, representing a 46 per cent topline growth compared to N71.2 billion achieved in the corresponding period in 2023.
The company in the results filed to the Nigerian Exchange (NGX) Limited said it posted a gross profit of N42.9 billion in the third quarter of 2024, 88 per cent higher than the N22.8 billion reported in the first nine months of last year.
The financial statements showed that a net profit of N11 billion was posted between January and September 2024 versus the N7.5 billion achieved at the same time in 2023, implying a 47 per cent increase despite the challenging macroeconomic environment triggered by inflationary pressure.
“The consistency in our quarter-on-quarter sustained growth and performance remains a testament that with our Growth Action Plan (GAP), we are committed to serving consumers with our best brands to meet their daily needs of improved health and hygiene.
“Unilever Nigeria is pleased with its performance progress riding on the pillars of operational efficiency, cost optimization, purposeful brands and increasing market share across key categories,” the Managing Director of Unilever Nigeria, Mr Tim Kleinebenne, commented on the results.
“Unilever Nigeria will continue to strengthen its operations in the country to meet citizen’s needs in health and hygiene through our brands and products,” he added.
As a centenary old company and the longest-serving manufacturing company in Nigeria, Unilever Nigeria said it is committed to ensuring continuous socioeconomic impact and investments in Nigeria.
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, Pepsodent, Closeup, and Rexona.