UNILEVER Declares N19.4bn Turnover in Q1 2021 Results,(SP:N12.95k)


Wednesday, April 21, 2021 / 11:00 AM / By  NGX Group / Header Image Credit: Unilever Nigeria Plc 

Unilever Nigeria Plc released its Q1 2021 Unaudited results for the period ended March 31st, 2021.

 Key Highlights

  • Revenue grew by 45.7% to N19.4bn from N13.3bn in the previous quarter.
  • Loss before tax stood at N110m.
  • Loss after tax stood at N492m.
  • Net Assets declined by -0.8% from N62.1bn to N61.6bn.

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Q1 2021 Unaudited Report: Unilever Nigeria records 46% growth in Turnover 


Unilever Nigeria Plc released its unaudited interim report for the quarter ended 31st March 2021. The Company recorded Turnover of N19.4 bn in the period under review which represents 46% growth compared to N13.3bn recorded in the corresponding quarter of 2020.


The result showed that the company recorded a gross profit of N4.5bn for the quarter ended 31st March 2021 which is 31% up versus N3.4bn reported for same period last year.


Overall, Unilever recorded loss after tax of N.5bn for the quarter ended 31st March 2021 compared to profit after tax of N1.1bn reported for the corresponding period in 2020.


Speaking on the results, the Corporate Affairs and Sustainable Business Director, 'Soromidayo George said that improved performance shows the determination and commitment of Unilever to continue to implement strategies that would enable it deliver value to its customers and shareholders.


"Unilever Nigeria remains focused on its strategy to deliver sustainable growth both in the medium and long-term." Said Mrs. George.


Amidst the prevailing operational challenges of the environment, Unilever Nigeria will continue to focus on its vision of making sustainable living commonplace by serving Nigerian consumers with the right products that improve their health and wellbeing.


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