Unilever Nigeria has reported a turnover of N59.2 billion for the year ended 31 December, 2015 – a rise of 6.2 percent, according to a report published by Vanguard Nigeria.
Indeed, fourth-quarter results bounced back against all major markers – from turnover growth of 36.3 percent to N16.52 billion to a considerable increase of 78.3 percent in profit after tax (PAT) in the final quarter of the year, to reach N1.19 billion for the full year (down 51 percent on 2014 figures).
Cost of sales rose 7.2 percent over 2015, to N38 billion, while net finance cost was up 64.7 percent to N2.87 billion, although net finance cost as a function of operating profit improved significantly in the final quarter of the year to 31 percent, compared to 66 percent in Q4 2014.
“Although the operating environment remains challenging, we have continued to see momentum behind process improvements, costs and operational efficiencies. We will continue to focus on driving cost efficiencies, increasing market share across key categories and reinvesting behind our core brands,” said the company in a statement.