Unilever Nigeria Plc has reported a profit after tax of N5.6bn for the first quarter ended March 31, 2025, representing a 65 per cent increase from the N3.4bn recorded in the same period of 2024.
The unaudited financial statement filed with the Nigerian Exchange showed that the company posted a turnover of N46.9bn in the period under review, reflecting a 45 per cent growth compared to the N32.3bn revenue recorded in the corresponding period of 2024.
In the period under review, the company’s gross profit also rose to N18.8bn in the first quarter of 2025, indicating a 40 per cent increase from N13.5bn posted in the same period of the previous year.
Commenting on the result, Managing Director of Unilever Nigeria, Tobi Adeniyi, attributed the performance to the company’s focus on strategic priorities and operational efficiency.
He said, “We are pleased to have commenced the year with strong momentum across all critical dimensions of the business.
The promising start reflects the dedication, agility, and pioneering mindset of our teams, and this positions us optimally to sustain our growth trajectory in the dynamic environment we operate in.
“Our strategy remains anchored on three pillars: driving focus on our core portfolio and geographies, excelling with our unmissably superior brands, and accelerating productivity on our bottom line.”
Adeniyi further noted that with the company’s performance in the first quarter, there is optimism for sustained growth in the year ahead.
He said, “With Q1 performance reflecting robust growth, we are optimistic that with a consistent level of discipline across the business and putting our consumers first in all we do, we expect to see consistent and sustained performance through the year and continue to brighten everyday life for Nigerians.”
Reaffirming Unilever’s long-term presence in the country, Adeniyi stated, “The story of Unilever Nigeria is that of commitment to continuous investments in Nigeria. As the longest-serving manufacturing company in Nigeria, at over a hundred years, Unilever is here to stay and to serve citizens through its locally produced brands and operations.”
The PUNCH reported that Unilever Nigeria Plc has reported a net profit of N15.1bn for the 2024 financial year, reflecting a 79 per cent increase from the N8.4bn recorded in the previous year.
