Unilever Nigeria Plc has released its unaudited interim report for the twelve months ending December 31, 2023. During this period, the company experienced a significant 51% increase in turnover, reaching N97.4 billion, compared to N64.6 billion in 2022. The gross profit for December 2023 rose by 13%, reaching N29.8 billion, up from N26.3 billion in the same period the previous year.
The net profit for the overall business exhibited robust growth, surging by 91% to N8.5 billion in December 2023, compared to N4.5 billion in the corresponding period in 2022. Adjusting for portfolio changes in 2023, the net profit from ongoing operations also saw an impressive increase of 106%, reaching N12.3 billion, compared to the like-for-like portfolio net profit of N6.0 billion in 2022.
Tim Kleinebenne, the Managing Director, expressed satisfaction with these positive results, emphasizing Unilever Nigeria’s commitment to competitive, consistent, profitable, and responsible growth. The company attributed its success in 2023 to operational efficiency, cost optimization, a purposeful brand portfolio, and increased market share across key categories.
Unilever
Looking ahead, Unilever Nigeria plans to further strengthen its operations to meet the needs of citizens through its best brands, dedicated workforce, and efficient operations. As the longest-serving manufacturing company in Nigeria, celebrating its 100-year anniversary in 2023, Unilever Nigeria affirms its commitment to providing locally made brands and contributing positively to the country’s socioeconomic development, as reported by gaurdian.ng
