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.

The company also achieved a turnover of N149.5bn, which represents a 44 per cent growth compared to the N103.9bn in 2023.

The audited results, which cover the twelve-month period ending 31st December 2024, reveal an increase in the company’s gross profit.

In the period under review, Unilever recorded a gross profit of N55.1bn, marking a 60 per cent rise from the N34.5bn achieved in the same period last year.

Commenting on the result, the Managing Director of Unilever Nigeria, Tobi Adeniyi, attributed the company’s performance to its resilient business strategy and the efforts of its dedicated workforce.

In a statement following the release of the audited report, Adeniyi highlighted the company’s commitment to delivering high-quality products and meeting the evolving needs of Nigerian consumers.

“We are pleased with our stellar performance in 2024, which is built on the foundation of our resilient strategy and the unwavering commitment of our people. Our focus has remained on delivering superior products to our consumers while continually investing in our brands and expanding our market reach,” Adeniyi said.

He further noted that the company’s year-on-year growth is a direct result of its strategic focus on operational efficiency, cost optimization, and the strengthening of its market position across key product categories.

Adeniyi emphasized that Unilever Nigeria continues to create demand through purposeful branding and innovative product offerings, which have helped the company expand its market share in a highly competitive industry.

Looking ahead, Adeniyi expressed confidence that the company will continue to build on its strong foundation, expanding its footprint in Nigeria and across Africa.

The PUNCH reported that Unilever Nigeria Plc has recorded a turnover of N149.8bn. This marks a 44 per cent increase from the N103.9bn achieved in the corresponding period in 2023.