Unilever Nigeria to record profit for the first time in 3 years

Unilever Nigeria is in course to turn a profit for the second consecutive quarter and is on track to close the the 2021 year with profit, according to a report published by The Cable.

The West African division of the British FMCG firm reported a overall profit of over N1 Billion at the end of the third financial quarter. A considerable amount of growth in comparison to the N1.5 Billion loss which was recorded in the same period last year.

The extensive increase in profit was largely due a sales increase by 12.5% yoy in the third quarter, mainly contributed by the home and personal care segments. Unilever’s strategic plan has seen revenue increase and operating costs decline, hugely contributing towards the profit boosts

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