Finance

Unilever Nigeria grows profit by 60% in six months

Unilever Nigeria to exit home care, skin cleansing markets

Unilever Nigeria Plc has said its gross profit rose by 60 per cent to N9.9bn for the six-month period ended June 30, 2021 from N6.2bn in the corresponding period of 2020.

It disclosed this on Sunday in a statement released on its unaudited interim report for the period, titled ‘1H 2021 unaudited report: Unilever Nigeria records 43 per cent growth on topline’.

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“The company recorded turnover of N39.2bn in the period under review which represented 43 per cent topline growth compared to N27.3bn turnover recorded in the corresponding period in 2020,” it said.

Unilever recorded profit after tax of N0.72bn for the period ended June 30, 2021, compared to a loss after tax of N0.52bn reported for the corresponding period in 2020.

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Speaking on the results, the Corporate Affairs and Sustainable Business Director, ‘Soromidayo George, said that the improved performance showed the commitment of Unilever to continue to implement strategies that would enable it to 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,” George said.

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The company said amidst the prevailing operational challenges of the environment, it would 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.

Punch

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