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Unilever Nigeria Plc recorded turnover of N16.8 billion in its unaudited interim report for the quarter ended December 31, 2020. This represents an 84 percent topline growth compared to N9.1 billion turnover recorded in the corresponding quarter in 2019.
The result showed that the company recorded a gross profit of N3.9 billion for the quarter ended December 31, 2020 relative to gross loss of N2.9 billion reported for the corresponding quarter in 2019.
Overall, profit after tax for the review period was N468 million, representing a turnaround from the loss after tax of N4.7 billion reported for the corresponding period in 2019.
The unaudited interim report also indicates that Unilever Nigeria Plc recorded turnover of N61.6 billion for the year ended December 31, 2020, reflecting a marginal topline growth compared to N60.8 billion reported for the year ended December 31, 2019. Loss after tax reduced to N1.6 billion compared to loss after tax of N4.2 billion recorded for the year ended December 31, 2019.
Speaking on the results, Soromidayo George, Unilever Nigeria’s corporate affairs and sustainable business director, stated that while 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.
George added that Unilever Nigeria remains focused on its strategy to deliver sustainable growth both in the medium and long term, riding on the pillars of operational efficiency, cost optimisation, purposeful brands and increasing market share across key categories.
“We will 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.
