Unilever Nigeria Plc reported a 41% increase in turnover in the first half of the year, H1’24, to N63.9 billion, up from N45.3 billion in the same period in 2023, H1’23.
In comparison to the N13.1 billion reported for the same period the previous year, the company’s unaudited statistics for H1’24, which were published on the Nigerian Exchange Limited, NGX, indicated a gross profit of N26.2 billion, a 100% increase.
BrandSpur business and economy news reports that the overall business result for the quarter ending June 30, 2024, was N4.4 billion in net profit. This represents a 61% increase over the N2.8 billion net profit for a similar period in 2023.
Tim Kleinebenne, the Managing Director, commented on the findings, saying: “We are pleased with our commitment to stay in Nigeria as the longest-serving manufacturing company in the country. As a company that has stayed over a centenary in Nigeria, we are not just here to stay, but we are very convinced that the opportunities in Nigeria are more than the challenges.”
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Kleinebenne, speaking further: “Our H1’ 2024 unaudited results with a topline growth at 41%, is a testament that with our Growth Action Plan (GAP) we are committed to serving consumers with our best brands to meet their daily needs of improved health and hygiene.
“Unilever Nigeria is pleased with its performance progress riding on the pillars of operational efficiency, cost optimization, purposeful brands, and increasing market share across key categories,” he added.
