Unilever Nigeria Plc has announced a remarkable financial performance for the first quarter of 2025, posting a pre-tax profit of N10.7 billion.
This marks a significant 146.67% increase from the N4.3 billion recorded during the same period in 2024, driven by a substantial rise in sales across its core product lines.
The company’s total revenue for Q1 2025 reached N46.9 billion, a 45.37% increase compared to the N32.3 billion reported in Q1 2024.
Within the revenue breakdown, Food Products led the charge with N27.5 billion, while Personal Care generated N15.1 billion and Beauty & Wellbeing contributed N4.3 billion.
Despite a rise in the cost of sales, which increased to N28.1 billion from N18.8 billion in the prior year, Unilever Nigeria saw its gross profit climb to N18.8 billion, a 39.64% year-on-year increase from N13.5 billion.
The company also experienced a notable 9.67% increase in its marketing and administrative expenses, which grew to N9 billion, up from N8.2 billion in Q1 2024.
On a more positive note, operating profit surged by 115.18%, reaching N8.2 billion, compared to N3.8 billion in the previous year.
The company also benefitted from a 32.80% rise in finance income, which increased to N2.6 billion, primarily due to interest earned from call deposits and bank accounts.
Finance costs, however, saw a sharp decline, dropping from N1.4 billion in Q1 2024 to just N172 million this quarter.
Unilever Nigeria’s total assets stood at N155.09 billion, reflecting a 9.50% increase from the previous year, while its retained earnings grew by 21.84%, amounting to N30.9 billion.
As of market close on March 28, 2025, the company’s shares were priced at N43.00, reflecting a 30.50% increase in year-to-date performance on the Nigerian Stock Market.
