Unilever Nigeria Records 2% Growth in Turnover

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Unilever Nigeria Plc released its audited report for the year ended 31st December 2020. The Company recorded a Turnover of N61.9 billion in the year under review which represents 2% topline growth compared to N60.4bn Turnover recorded in the corresponding year in 2019.

The result showed that Unilever Nigeria recorded a gross profit of N12.8bn for the year ended 31st December 2020, this represented a 169% increase in gross profit relative to a gross loss of N4.7bn reported for the year ended 31st December 2019.

Overall, loss after tax for the year ended 31st December 2020 reduced by 53% to N4.0bn from the loss after tax of N7.4bn reported for the prior year in 2019.

Unilever Nigeria - Earnings slide expected despite Revenue rebound Brandspurng

Speaking on the results, Unilever Nigeria’s Corporate Affairs and Sustainable Business Director, ‘Soromidayo George, stated that even though 2020 was a year of significant disruptions and volatilities impacting the operating environment, Unilever Nigeria continues to build its resilience to navigate the impact of headwinds.

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Mrs. George added that the company remains focused on its strategy to deliver sustainable growth both in the medium and long-term riding on the pillars of operational efficiency, cost optimization, purposeful brands and increasing market share across key categories.

Read Also:  Unilever Overseas Holdings B.V. Acquires More Stake in Unilever Nigeria Worth ₦352M

“We continue to monitor the business environment and respond appropriately to volatilities in the operating environment as well as disruptions from the Covid-19 pandemic.” She said.

Unilever Brandspur

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