UNILEVER declares N1.1bn PAT in Q1 2020 Result,(SP:N11.00k)


Friday, April 17, 2020/ 7:09PM / by NSE With Additional Statement from the Company / Header Image Credit: Marketing Week

Unilever Nigeria Plc released its Unaudited Q1 2020 results for the period ended March 31st, 2020.

Key Highlights

  • Revenue declined by -30.7% to N13.3bn from N19.2bn in the previous quarter.

  • Profit before tax declined by 53.2% to N948m.

  • Profit after tax declined by 26.8% to N1.1bn.

  • Net Assets grew by 1.7% to N67.6bn from N66.5bn.

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Q1 2020 Unaudited Report: Unilever Nigeria records N13.3billion Revenue

Unilever Nigeria has released its unaudited report for the period ended 31st March 2020. The Company recorded Turnover of N13.3 billion in the period under review.  This represents a 46% increase compared to the previous Quarter 4 2019 and a 31% decline compared to N19.2bn recorded for the corresponding period, Q1 2019.

The result shows the company also recorded profit after tax of N1.1bn for the period ended 31st March 2020 representing a 27% decline when compared to N1.5billion recorded for the period ended 31st March 2019.  

The company through its Corporate Affairs Director, Mrs. 'Soromidayo George said that 'Unilever Nigeria remains focused on its strategy to deliver sustainable growth and will continue to monitor the business environment and remain dynamic in its response to challenges to operations and the economy, in the light of Covid-19 pandemic'.

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