Unilever Nigeria Grows Profit by 65% in Q1 2025, Delivers 45% Revenue Growth
- Unilever has released its unaudited financial statement for the first quarter of 2025, reporting impressive performance
- The consumer goods company achieved a 40% increase in gross profit, while its net profit rose by 65%
- The Managing Director, Tobi Adeniyi, expressed excitement about the results, explaining how the company achieved this performance
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends
Unilever Nigeria Plc has announced impressive financial results for the three months ended March 31, 2025.
In its unaudited financial statement, the company reported a turnover of N46.9 billion in Q1, 2025 a remarkable 45% increase from N32.3 billion recorded during the same period in 2024.
Source: Facebook
Unilever Nigeria also revealed a significant growth in gross profit, which surged by 40% to N18.8 billion compared to N13.5 billion in the first quarter of 2024.
The company's net profit rose by 65%, reaching N5.6 billion for the three months ending March 31, 2025, up from N3.4 billion during the corresponding period in the previous year.
Unilever Nigeria offers a range of household products under Beauty and Wellbeing, Personal Care, Foods, Home Care, and Ice Cream.
MD speaks on Q1 financial performance
Commenting on the positive results, Tobi Adeniyi, the Managing Director of Unilever Nigeria, expressed satisfaction with the company's strong start to the year.
He said:
“We are pleased to have commenced the year with strong momentum across all critical dimensions of the business.
"The promising start reflects the dedication, agility and pioneering mindset of our teams, and this positions us optimally to sustain our growth trajectory in the dynamic environment we operate in. Our strategy remains anchored on 3 pillars; driving focus on our core portfolio and geographies, excelling with our unmissably superior brands, and accelerating productivity on our bottom line.”
“With Q1 performance reflecting robust growth, we are optimistic that with a consistent level of discipline across the business and putting our consumers first in all we do, we expect to see consistent and sustained performance through the year and continue to brighten everyday life for Nigerians”.
Source: Getty Images
Speaking further, Adeniyi said that the story of Unilever Nigeria is that of commitment to continuous investments in Nigeria.
He added:
"As the longest serving manufacturing company in Nigeria at over a hundred years, Unilever is here to stay and to serve citizens through its locally produced brands and operations."
UBA, Zenith, others the top list of five most profitable banks in 2024
Ealier, Legit.ng reported that Zenith Bank, Guaranty Trust Bank, UBA, Stanbic IBTC, and Fidelity Bank reported record profits in their 2024 financial year.
The five banks posted a profit after tax of N3.317 trillion, with financial experts warning that, in dollar terms, these figures paint a different scenario as the naira has depreciated by about 70% against the dollar.
UBA’s post-tax profit rose 24.14% to N766.6 billion from N607.7 billion in 2023, while Zenith Bank recorded a profit after tax of N1.03 trillion.
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Source: Legit.ng
