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Unilever records 2% growth in turnover

Unilever Nigeria Plc released its audited report for the year ended December 31, 2020. The company recorded turnover of N61.9 billion in the year under review, which represents 2 percent top-line growth compared to N60.4 billion turnover recorded in the corresponding year in 2019.

The result showed that the company recorded a gross profit of N12.8 billion for the year ended December 31, 2020, representing a 169 percent increase in gross profit relative to gross loss of N4.7 billion reported for the year ended December 31, 2019.

Overall, loss after tax for the year ended December 31, 2020, reduced by 53 percent to N4 billion from the loss after tax of N7.4 billion reported for the prior year in 2019.

Speaking on the results, Soromidayo George, corporate affairs and sustainable business director, stated that even though 2020 was a year of significant disruptions and volatilities impacting the operating environment, Unilever Nigeria continued to build its resilience to navigate the impact of headwinds.

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George added that the company remains focused on its strategy to deliver sustainable growth both in the medium and long-term riding on the pillars of operational efficiency, cost optimisation, purposeful brands and increasing market share across key categories.

“We continue to monitor the business environment and respond appropriately to volatilities in the operating environment as well as disruptions from the COVID-19 pandemic,” she said.

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