The after-tax profit of Unilever Nigeria, a fast-moving consumer goods firm rose by 60.9 percent to N4.44 billion in the first half of 2024 from N2.76 billion in the same period of 2023, according to its latest financial statements
The firm’s revenue grew to N63.9 billion from N45.4 billion during the period.
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Further analysis reveals that personal care contributed the largest N22.2 billion to the total revenue while food products, beauty, and well-being recorded N37.1 billion and N4.58 billion respectively.
Selling and distribution expenses surged to N2.7 billion from N1.79 billion while marketing and administrative expenses grew to N16.9 billion from N6.47 billion. Earnings per share for profit attributable to equity holders increased to N0.77 per share from N0.71 per share.
