Unilever Nigeria on course to deliver first profit in three years

Unilever Nigeria on course to deliver first profit in three years

THE WHAT? Unilever Nigeria has turned a profit for the second consecutive quarter and is on course to close fiscal 2021 in the black, according to a report published by The Cable.

THE DETAILS The West African branch of the British FMCG manufacturer reported profit of N1 billion at the end of the third quarter; a considerable improvement on the loss of N1.5 billion recorded in the same period last year.

THE WHY? Sales were up 12.5 percent yoy in Q3, led by the home and personal care segments. Unilever Nigeria has seen revenue rise and costs decline, helping to boost profit.

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