Unilever Nigeria Plc on Thursday reported a pre-tax profit of N13.4 billion, up from N10.7 billion recorded in the corresponding period of 2025.
- +Unilever Declares ₦13.4bn Q1 2026 Profit
In its just-published Q1 2026 results, improvement was driven by a strong top line, with revenue rising to N59.1 billion, marking a 25.96% increase from N46.9 billion recorded in the same period last year.
In its just-published Q1 2026 results, improvement was driven by a strong top line, with revenue rising to N59.1 billion, marking a 25.96% increase from N46.9 billion recorded in the same period last year.
The performance extended to the bottom line, as earnings per share increased to N1.22, compared to N0.97 recorded in the corresponding period of the prior year.
Of total revenue, Foods, including savoury products, accounted for 63.7% of sales, followed by personal care products at 26.8%, while skin care products contributed the remaining share.
Key highlights included revenue of N59.1 billion, up 25.96% YoY. This comprised N37.6 billion from Foods, N15.8 billion from personal care products, and N5.6 billion from Beauty & Wellbeing.
Cost of sales totalled N32.5 billion, up 15.77% YoY, which rose alongside revenue, increasing by 15.77% to N32.5 billion from N28.1 billion, leaving gross profit at a solid N26.6 billion, up from N18.8 billion.
Gross profit: N26.6 billion, up 41.17% YoY.
It posted an operating profit of N11.4 billion, up 38.88% YoY. Operating expenses also trended upward, with selling and distribution costs edging up to N1.8 billion from N1.7 billion, while marketing and administrative expenses rose significantly to N13.5 billion from N9.08 billion.
With an impairment gain of N26.1 million and other income of N295.2 million, largely from promissory notes, operating profit settled at N11.4 billion, up 38.9% year-on-year.
It reported a pre-tax profit of N13.4 billion, up 24.83% YoY, a post-tax profit of N7.01 billion, up 26.43% YoY, and retained earnings of N54.7 billion, up 14.69% YoY.
The company recorded a net finance income of N1.9 billion, which, when combined with operating profit, lifted pre-tax profit to N13.4 billion for the period.
Following an income tax charge of N6.4 billion, post-tax profit stood at N7.01 billion, rising from N5.5 billion, while earnings per share increased from N0.97 to N1.22.
On the equity side, retained earnings increased by 14.69% year-on-year to N54.7 billion from N47.7 billion, lifting total equity to N114.4 billion from N107.4 billion.
While total assets expanded to N189.9 billion from N180.1 billion, with cash and cash equivalents of N114.4 billion forming the largest component, total liabilities rose moderately to N75.5 billion from N72.7 billion, driven largely by trade and other payables, which stood at N44.4 billion.
